Shipyards are facing disruption to newbuilding, repair and conversion projects due to the impact of the virus on their labour force and the ability of their subcontractors to meet their commitments to supply materials and equipment necessary for the co…
COVID-19 And Its Consequences On Shipbuilding Contracts Read More »
Values for older VLCC and Aframax tonnage, as well as for Panamax bulkers have taken a downturn over the course of the past week. In a note this week, ships’ valuations expert, VesselsValue said that in the tanker segment, “older VLCC and Aframax…
Ships’ Values Retreating Read More »
The latest PMI (Purchasing Manager’s Index) reading from the National Bureau of Statistics confirms what we all had expected: the coronavirus has dealt a merciless blow to Chinese manufacturing. The official Chinese PMI, which tracks larger businesses,…
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts (which similarly apply to offshore construction contracts), particularly those underway in China? In general terms, a force majeure…
An Epidemic Of Uncertainty – The Coronavirus And Force Majeure Read More »
LNG shipping hasn’t been able to avoid the negative impact from the drop in gas demand, as a result of the Coronavirus outbreak. In a recent market commentary, LNG ship owner, AWILCO LNG said that “the story of LNG in 2019 has been one of massive…
LNG Shipping Faces Coronavirus Negative Impact Read More »