One year since the Galaxy Leader attacked by Houthis in the Red Sea and the crew taken hostage. Statement from BIMCO Secretary General & CEO, David Loosley
Updated security guidance applicable to navigating in the Southern Red Sea and Gulf of Aden issued by BIMCO, ICS, CLIA, IMCA, INTERCARGO, INTERTANKO and OCIMF
The World Shipping Council, the International Chamber of Shipping and BIMCO today expressed their thanks to the 12 nations that have jointly condemned the ongoing illegal attacks on ships in the Red Sea
We estimate that dry bulk supply will grow by 3-4% in 2024 and 2-3% in 2025 and 2026. The dry bulk fleet is forecast to grow by 3% on average in 2024 and in 2025 and by 2.6% in 2026. Stable deliveries and increased recycling will slow fleet growth. Ship deliveries are estimated to reach 34.2, 34.5 ... Please follow the link to continue reading.
During 2024, the supply/demand balance has improved and the full year is expected to end stronger than 2023. However, in our main scenario we expect a weakening of market conditions in 2025 and 2026. For both years we are working with two demand scenarios depending on when ships can fully return to... Please follow the link to continue reading.
In light of the recent development, BIMCO recommends using the latest editions of its War Risks clauses VOYWAR 2013 and CONWARTIME 2013
BIMCO has received two security advisories which are shared below.
Young people visiting the BIMCO office in Denmark.
Revised interim transit guidance for Southern Red Sea and Gulf of Aden
BIMCO would like to remind all members of the need to remain vigilant and report all suspicious activity to UKMTO when transitting through the southern Red Sea in the area of Bab el Mandeb.
