Overview A buyer’s payment instalments are at risk under a shipbuilding contract until the shipyard delivers the ship. To safeguard against the risk of the shipyard defaulting or becoming insolvent it is common practice to cover this risk with a refund…
BIMCO publishes new standalone Refund Guarantee for Shipbuilding Contracts Read More »
Global food trade looks set for a resilient year ahead despite supply and demand uncertainties, according to a report from the Food and Agriculture Organization of the United Nations (FAO). Trade flows for agricultural, and particularly less-perishable…
The product tanker market has a long way to go, as global gasoline demand is expected to lag in terms of demand recovery, with crude oil expected to recover first. In its latest weekly report, shipbroker Intermodal said that “while approaching the seco…
Product Tanker Market Recovery Still Has a Long Way to Go Read More »
DNV has launched the EEXI Calculator – a digital tool to support customers in ensuring their compliance with the upcoming Energy Efficiency Existing Ship Index (EEXI). The regulation is expected to be adopted at this week’s 76th meeting of the Marine E…
Standardising and harmonising electronic ship to shore communication for reporting purposes was high on the agenda at the International Maritime Organization’s (IMO) virtual Facilitation Committee (FAL) meeting held from 1-7 June 2021 (FAL 45). One of …
BIMCO welcomes updated IMO Compendium to advance electronic data Read More »