BIMCO Eyes Asia with New Gas Contracts
Baltic and International Maritime Council (BIMCO) will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.A press release from the largest of the international shipping associations representing shipowners said that it is planning to develop the new contracts in Asia in an effort to further increase the involvement of its Asian members. Both projects will be developed mainly by experts from the region and managed by BIMCO’s Shanghai office…
BIMCO Hails Carriage Ban
Baltic and International Maritime Council (BIMCO) has been a proponent for a carriage ban of non-compliant fuel (unless the ship has a scrubber) and is pleased to see it adopted with a start date of 1 March 2020, said a release from the international shipping association.“A carriage ban on non-compliant fuel is critical in order for the member states to be able to enforce the sulphur regulation,” Lars Robert Pedersen, BIMCO Deputy Secretary General.Two key developments were the adoption of the ban…
Strong Tanker Market Extends Peak Season High Earnings
Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported. The demand for crude oil tankers remains high even though the winter months are far behind us. Following the winter peak season of 2013/14, crude oil tanker earnings collapsed and remained low during spring, before rebounding over the summer. In the winter peak of 2014/15, this has not been the case. The market appears to have kept the momentum going, keeping the crude oil tanker earnings at a high level.
Long Beach Mayor, Port Leaders in Europe
Long Beach Mayor Robert Garcia is leading a Port of Long Beach delegation on a weeklong business development trip this week to meet with executives at the European home offices of the world’s three largest shipping lines. The group will update Port customers on the impact of the recent labor negotiations and steps being taken to improve congestion and make the Port more efficient. Delegation members include Harbor Commission President Doug Drummond, Commission Vice President Rich Dines, Commissioner Lou Anne Bynum and Harbor Department Chief Executive Jon Slangerup.
