Refund guarantees are complex legal documents and must meet the requirements of the issuing banks. BIMCO has, in close co-operation with legal and commercial experts, banks and shipyards, been working to develop a standard refund guarantee which can be used for shipbuilding contracts, such as SAJ.
Refund guarantees are complex legal documents and must meet the requirements of the issuing banks. BIMCO has, in close co-operation with legal and commercial experts, banks and shipyards, been working to develop a standard refund guarantee which can be used for shipbuilding contracts, such as SAJ.
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MEMBER CONTENT – login using the orange button at the top of the page to view.
Though the spot markets for both crude and product tankers have suffered reductions during 2023, and crude tankers especially have seen significant volatility, both markets have remained attractive. Time charter rates have remained near the highs of 2022 and second-hand ship prices have continued to... Please follow the link to continue reading.
Starting 31 December 2018, EU-flagged newbuildings must carry out an inventory of hazardous materials on board and carry relevant certification.
We estimate that dry bulk supply will only grow by 2-3% in 2024 and 1.5-2.5% in 2025. The dry bulk fleet is expected to grow by 2.6% in 2024 and 2.3% in 2025, the slowest it has grown since 2016. Ship deliveries are forecast to reach 32.0 and 32.4 million DWT in 2024 and 2025 respectively. This is... Please follow the link to continue reading.
BIMCO seeks members' comments on the latest draft of this new contract.
Work has begun on the revision of BIMCO’s Standard Ship Repair Contract, codenamed REPAIRCON.
We estimate that dry bulk supply will grow by 3-4% in 2024 and 1.5-2.5% in 2025. The dry bulk fleet is expected to grow by 2.9% in 2024 and 2.6% in 2025. Low deliveries and higher recycling will contribute to slower fleet growth. Ship deliveries are forecast to reach 33.3 and 33.9 million DWT in 2... Please follow the link to continue reading.
