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/


People & Company News

MobileOps Pursuing Maritime Business

Redmond, Wash. based MobileOps, Inc., a software company specializing in the design and development of maritime software applications (dispatch, safety, compliance,

Half a Century at Sea

Siegfried Schmerer already dreamed of becoming a captain as a young boy. Later, as a sailor on a coaster, he suffered from seasickness. Though he thought about giving up,

MN100: Shock Mitigation

The Company: The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview

Finance

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

Advent Hires Banks to Sell Control of Brazil Port

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA,

SUNY Maritime Among 'Best Bang for the Buck' Colleges

SUNY Maritime College has been named one of the best colleges for its price by Washington Monthly.   SUNY Maritime placed in the top 30 schools in the Northeast.

Environmental

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Maritime Security

Indian Warships Visit Port Victoria

In a demonstration of India’s commitment to its ties with Seychelles and maritime security in the Indian Ocean Region, Indian Naval Ships Kolkata, Trikand and

White House: Iranian Ships' Actions in Gulf Increase Risk of Miscalculation

Actions by Iranian vessels in several encounters with U.S. warships in the Gulf this week are cause for concern and increase risks of miscalculation, the White House said on Friday.

Australia Warns DCNS after Security Breach

Australian defence officials warned French naval contractor DCNS to beef up security in Australia, where it is preparing to build a A$50 billion ($38.13 billion) fleet of submarines,

Casualties

Caribbean Fantasy Fire Extinguished

A fire that broke out aboard the passenger vessel Caribbean Fantasy at 7:42 a.m. on August 17 has been extinguished, and the vessel has been moored safely in port.

Passenger Vessel Allides with Pier in Baltimore

Passenger vessel Spirit of Baltimore struck the pier at Henderson Wharf Marina in Baltimore, Sunday morning, causing 60 feet of damage to the pier and cosmetic damage to the vessel’s hull.

USS Freedom Suffers Casualty

The U.S. Navy's first littoral combat ship USS Freedom (LCS 1) experienced a casualty to one of its main propulsion diesel engines (MPDE) on July 11 reportedly

News

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

White House Sees a Path to Approval of Pacific Trade Deal

The White House on Monday said it was hopeful it could win congressional approval of the Trans-Pacific Partnership trade pact before President Barack Obama leaves office,

Maritime Safety

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

New Offshore Gangway Launched at ONS

The new Barge Master Gangway will be presented at the joint booth of Barge Master and Bosch Rexroth during the international offshore trade exhibition ONS (Offshore Northern Seas) in Stavanger.

Caribbean Fantasy Fire Extinguished

A fire that broke out aboard the passenger vessel Caribbean Fantasy at 7:42 a.m. on August 17 has been extinguished, and the vessel has been moored safely in port.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1447 sec (7 req/sec)