International maritime trade is expected to drop by 4.1% this year, with an anticipated modest recovery in 2021 that is heavily caveated by its forecaster, UNCTAD. Having already stalled last year, trade growth was just 0.5% in 2019, down from 2.8% in …
UNCTAD: ‘Recovery fraught with uncertainty’ Read More »
The new RCEP trade agreement could become a boon for shipping in the coming years, at least according to market delegates. In its latest weekly report, shipbroker Allied Shipbroking said that “during a week where the developments regarding the pandemic…
New Trade Agreement Could Herald New Growth Era For Ship Owners Read More »
Letters of indemnity (LOIs) are common in the shipping industry and are often used to ‘oil the wheels’ where a charterer wants to do something that does not fall squarely within the terms of the charterparty. The owner may be willing to comply, as long…
Careful drafting of LOI invocation clauses in charterparties avoids later surprises Read More »
A black flag showing a skull and crossbones automatically flashes through our minds each time we read or hear the word ‘piracy’ – I suspect that there must be a neurolinguistic programming into our minds since we were in our youth. Whilst reading comic…
Ships’ recycling activity could be much more brisker if more tonnage was available for sale. In its latest weekly report, shipbroker Clarkson Platou Hellas said that “as we enter the seasonal Diwali festivities, the true meaning being the celebration o…
Demolition Activity Will Pick Up Pace If More Tonnage is Offered Read More »