Baltic and International Maritime Council (BIMCO)

Global iron ore shipments drop amid supply disruptions

Global iron ore shipments have declined by 7% year-on-year during the first seven weeks of 2025, driven by supply disruptions and reduced Chinese import demand.

Australian exports have been hit hardest, dropping 10% year-on-year, while Brazilian shipments have decreased by 5% year-on-year.

Despite the relatively better performance of Brazilian shipments, which are boosting average sailing distances, tonne-mile demand has still fallen by an estimated 6% year-on-year, according to Filipe Gouveia,...

https://container-news.com/global-iron-ore-shipments-drop-amid-supply-disruptions/

BIMCO introduces FuelEU Maritime Clause to support decarbonization compliance

Starting 1 January 2025, the FuelEU Maritime Regulation will take effect, prompting stakeholders in the shipping industry to begin preparations immediately.

To assist with this transition, BIMCO has developed the FuelEU Maritime Clause for Time Charter Parties 2024, which was officially adopted by BIMCO’s Documentary Committee on 25 November 2024. This clause is designed to help stakeholders align their contractual frameworks in compliance with the new regulation.

“This clause has been eagerly...

https://container-news.com/bimco-introduces-fueleu-maritime-clause-to-support-decarbonization-compliance/

India now depends on Russia for 40% of its crude oil imports

During the past three months, India has relied on Russia for 40% of its seaborne crude oil import.

Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an increase of 1,000% compared to 2021, before Russia invaded Ukraine,” stated Niels Rasmussen, Chief Shipping Analyst at BIMCO.

The increased import of Russian oil has contributed to a higher average sailing distance for crude oil tankers discharging in India. Year-to-date, the average sailing distance has risen by...

https://container-news.com/india-now-depends-on-russia-for-40-of-its-crude-oil-imports/

Panama Canal restrictions drive 31% increase in dry bulk sailing distances

In this week’s “Shipping Number of the Week” from BIMCO, Shipping Analyst Filipe Gouveia examines the substantial impact of limited daily transits in the Panama Canal on the dry bulk market.

Between January and April 2024, transits decreased by 74% year-over-year, leading to a 31% year-over-year increase in sailing distances for affected routes, despite a 25% year-over-year decline in cargo volume.

“The limits in daily transits in the Panama Canal have significantly affected the dry bulk market,...

https://container-news.com/panama-canal-restrictions-drive-31-increase-in-dry-bulk-sailing-distances/

IBIA and BIMCO launch decarbonization cooperation

International Bunker Industry Association (IBIA) and Baltic and International Maritime Council (BIMCO) have entered into a Memorandum of Understanding (MoU) to jointly tackle challenges and opportunities in the bunker, marine energy, and maritime sectors, aiming to support the shipping industry decarbonization efforts.

“This partnership between IBIA and BIMCO marks an important step towards addressing the pressing challenge of decarbonisation in the shipping industry. The collaboration...

https://container-news.com/ibia-and-bimco-launch-decarbonization-cooperation/

Major shipping associations express concern about Houthi rebels’ first fatal vessel attack

Several associations of the shipping industry published a joint statement to express their deep concern over the tragic loss of life and injuries suffered by the crew of True Confidence in the first fatal ship attack by Houthis in the Red Sea.

“The loss of life and injuries to civilian seafarers is completely unacceptable,” said the joint statement. “Merchant vessels crewed by civilian seafarers transporting global trade have a right to innocent passage through the region without the threat of...

https://container-news.com/major-shipping-associations-express-concern-about-houthi-rebels-first-fatal-ship-attack/

BIMCO publishes ship financing forms for uninterrupted use of vessels

BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility.

The QELs will be provided by the lender to the charterer to ensure that the charterer, who does not have a contractual relationship with the lender but only with the owner, can continue to “quietly enjoy” the ship in case of the owner’s default.

In...

https://container-news.com/bimco-publishes-ship-financing-forms-for-uninterrupted-use-of-vessels/

BIMCO urges IMO to address contradictions in ship recycling conventions

BIMCO, one of the world’s largest international shipping associations, in collaboration with Bangladesh, India, Norway, Pakistan, and the International Chamber of Shipping (ICS), has submitted a proposal for the 81st Marine Environment Protection Committee (MEPC) meeting scheduled for 18-22 March 2024.

The proposal underscores the critical need to address potential conflicts between the requirements of the Hong Kong Convention and the Basel Convention, which could pose significant challenges for...

https://container-news.com/bimco-urges-imo-to-address-contradictions-in-ship-recycling-conventions/

BIMCO appoints new deputy secretary general

Stinne Taiger Ivø, who currently serves as BIMCO’s director of Contracts and Support, is set to assume the role of deputy secretary general at BIMCO starting 1 January 2024.

Ivø, who joined BIMCO in early 2022 to lead the Contracts & Support department, oversees the development of contracts and clauses for the shipping industry in collaboration with industry representatives.

Additionally, the Support & Advice department, under her guidance, addresses members’ queries related to charter parties...

https://container-news.com/bimco-appoints-new-deputy-secretary-general/

BIMCO calls on vessel owners as Bangladesh and Liberia ratify HK Convention

The International Maritime Organization (IMO), Bangladesh, and Liberia have announced the ratification of the Hong Kong Convention by both nations.

BIMCO believes the ratification marks the beginning of a new era for the ship recycling industry. During the two-year interim period, ahead of the entry in force, BIMCO is calling on shipowners to choose globally compliant yards for the benefit of the industry’s workers and the environment.

The ratification comes at a vital moment for the primary...

https://container-news.com/bimco-calls-on-vessel-owners-as-bangladesh-and-liberia-ratify-hk-convention/

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