BIMCO Reflections 2014

Joseph Keefe
Wednesday, January 08, 2014
BIMCO President John Denholm

BIMCO has published its Reflections 2014, a short and accessible analysis including its clear views on the critical issues faced by the shipping industry today and in the coming years.

Not least, the steady improvement of the global economy is bettering the outlook for shipping, as demand goes up and fleet expansion growth cools off, the market fundamentals are expected to improve across the board. Windows of sustainable earnings are likely to occur more often going forward.

But the regulatory burdens, notably those seeking to address environmental pressures, remain major challenges to the industry’s cost base at a time when resources are limited. This includes massive challenges on sulphur limits, ship efficiency, ballast water treatment and NOx regulation. Reflections 2014 also takes a closer look at maritime security, noting that the greatest emphasis is upon the scourge of piracy, but also stresses that there remain many other strands to maritime security e.g. the combating of narcotics and terrorism. The piracy situation is dynamic, and despite attacks in the Gulf of Aden and Somali basin dwindling the situation could reverse and the shipping industry must not drop its guard.

BIMCO’s traditional lead in the world of standard contracts and clauses remains strong along with its ability to respond fast and effectively to documentary demands. The Documentary Committee has been very busy throughout 2013 and has a very full agenda looking forward. In his accompanying message to Reflections 2014, BIMCO President John Denholm says: “a worrying amount of ordering is taking place, adding tonnage to an already excessive world fleet. This will delay a return to a balance between supply and demand and hence the long awaited market recovery. To add insult to injury, the ever increasing regulatory requirements impose significant costs on our industry at a time when it can ill afford them.”

To access the full message from the BIMCO President John Denholm and read the complete publication go to: https://www.bimco.org/emag/Reflections_2014/index.html#/1/

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Finance

Singapore Bunker Meter Mandate Targets 'Frothy Fuel'

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers,

Technip & Fluor Bag RAPID UIO Project

Technip, in a joint venture with Fluor, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd.

Gazprom to Counter Negative Global Market Trends

The Gazprom Board of Directors took note of the information on the Company's financial strategy under the conditions of negative trends in the global financial

Casualties

USCG Monitoring Barge adrift in Beaufort Sea

U.S. Coast Guard personnel and Canadian federal agencies, including the Canadian coast guard, Transport Canada and Environment Canada, are monitoring a 134-foot

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

Documentary Examines Shipbreaking Practices in Bangladesh

Toxic ships for Bangladesh: TV documentary on German ship owners and their shipbreaking practices A new documentary titled "Giftiger Tankerschrott für Bangladesch

News

Oversupply, Ebola Fears Drive Oil Below $86

* Middle East supply remains strong * Equities fall on confirmed case of Ebola in New York * Economists see gloomy 2015 for China, euro zone - Reuters

De Beers Orders Specialized Ship from Kleven

Kleven signed a contract with diamond company De Beers Marine Namibia, part of De Beers Group, on the building of a highly specialized vessel for deep water mineral exploration.

USCG Monitoring Barge adrift in Beaufort Sea

U.S. Coast Guard personnel and Canadian federal agencies, including the Canadian coast guard, Transport Canada and Environment Canada, are monitoring a 134-foot

Maritime Safety

General Dynamics is Link Govt-level Security to Consumer Smartphone

General Dynamics C4 Systems recently received the Defense Mobile Classified Capability (DMCC) contract from the National Security Agency (NSA). As part of the contract,

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

IBIA Welcomes MEPC Bunker Compromise

The compromise solution on the issue of ensuring bunker quality agreed at the 67th meeting of the IMO’s Marine Environment Protection Committee (MEPC 67) has been

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1903 sec (5 req/sec)