Time charters

Strong Movements In The Tanker Market Boost Euronav

Credit: Ojas Narappanawar/Pexels
  • VLCC and suezmax rates both improved month-on-month from January through March, the third time this pattern has occurred since 1990.
  • Euronav even saw a silver lining in OPEC+ production cuts which have hit tanker rates since the end of the reporting period.
  • Longer term time charters are emerging in the market, offering opportunities to extend good times when the cycle turns downwards.

Counter-seasonal movements in the first quarter 2023 large tanker market have...

https://mfame.guru/strong-movements-in-the-tanker-market-boost-euronav/

What Does Force Majeure Do If It Is Declared?

The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure, says an article published in Bimco.

Contract Termination Laws

The starting point is that while a vessel is carrying cargo there is no right for either party to terminate the contract. This approach has been taken to avoid that the provision acts as a weapon...

https://mfame.guru/what-does-force-majeure-do-if-it-is-declared/

Containership Charter Market Witnesses A ‘Tumultuous’ Year

  • Containership time-charter markets have, with few exceptions, experienced a rollercoaster ride since the start of 2020.
  • Starting with where the recovery has been strongest, among midsize and larger assets, there are several clear drivers of the strong markets seen over the past month.
  • Liner companies were clearly incentivised to capitalise on high spot freight rates as much possible during the recent transpacific import surge.
  • Units chartered for short durations during the transpacific import...

https://mfame.guru/containership-market-witnesses-a-tumultuous-year/