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BIMCO relaunches ship benchmarking system

Shipping KPI gives the ability to users to compare performance parameters between ships of similar type, tonnage, trades or flag states, while remaining anonymous. Users can compare 33 different Key Performance Indicators, such as budget performance, ship availability, contained spills and officer retention. The KPIs are based on 64 individual performance indicators. 

Economic growth to benefit shipping in 2018

The International Monetary Fund published its World Economic Outlook for January 2018 and has revised its original forecast for global growth in 2018 and 2019, up by 0.2 to 3.9% for both years. If this growth materialises, it will benefit the container shipping industry.

Tanker industry to face a challenging 2018

Loss-making freight rates shows that the tanker industry is currently battling. Overcapacity, weak ”trading demand” and weak OPEC output have put pressure on the conditions that usually boost long hauls, something that may result in extended losses into 2018.

The top three performing bulk terminals

The three best performing dry bulk terminals in the world are Santander and Bilbao in Spain and Quebec in Canada, according to BIMCO’s 2017 Dry Bulk Terminals Vetting Report. The report evaluates terminal and port performance from worldwide to improve safety standards and the turnaround time of ships calling ports.

Watch: Maritime security guidance on southern Red Sea and Bab al-Mandeb

In response to the threats arising from the conflict in Yemen, Phil Tinsley, BIMCO’s Head of Maritime Security, raised some key points before ships navigate in this region. The video came in public just a day after BIMCO, ICS and INTERTANKO published interim guidance on maritime security in the southern Red Sea and Bab al-Mandeb.

Carriage ban of non-compliant fuels to enforce 2020 sulphur cap

Leading environmental organisations and global shipping industry players have called for an explicit prohibition on the carriage of non-compliant marine fuels when the 2020 sulphur cap takes effect. In a joint statement, they assert that a carriage ban will help ensure robust, simplified and consistent enforcement of the global sulphur cap.

BIMCO introduces new contract editing software

SmartCon is built into a Word document, which will integrate and merge with the normal workflow of shipping professionals and legal staff. The contracts can be shared until it is fixed, without security risks, as everything is protected and authenticated by Microsoft’s Cloud security infrastructure.

Environment will be the focus point during 2018

Entering in 2018, BIMCO’s CEO and Secretary General, Angus Frew, mentioned that the most important issue this year will be the environment, with GHG strategies and the 2020 sulphur cap being the most significant.

BIMCO: Caution required in 2018 to maintain market progress

2017 was a mostly year of change to better, but a cautious approach is still needed for 2018 to maintain the progress already achieved, BIMCO noted. Specially, BIMCO expects an improvement in dry bulk and container shipping sectors, while for tanker sector, there is a potential upside in low fleet growth for both crude oil and oil product tankers.

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