A first draft of the BIMCO Force Majeure Clause will be presented for review at the BIMCO Documentary Committee meeting 25-26 January 2021. BIMCOs new Force Majeure Clause is advancing and will provide a high threshold for invoking it in or

Late last week, an explosion at South Africas second largest refinery cast focus firmly on the East and South African refined products market. Engens 120,000 b/d Durban refinery is small by modern standards but combined with the ongoing out

The drafting team working on the revision of GENCON 94 has agreed on a new Clause 2 for shipowners responsibilities. The 1994 version of this clause, sometimes jokingly called the owners non-responsibility clause because of the near untouch

On Dec. 8, Jiangsu Ocean Shipping Co., Ltd. signed a contract with NACKS/DACKS for four new-generation 64,000 dwt bulk carriers, which are scheduled to be delivered in 2022. Since 2002, Jiangsu Ocean Shipping has invested in the constructio

The Maritime and Port Authority of Singapore (MPA) signed a Memorandum of Understanding (MoU) with the Shanghai Maritime University (SMU) today to support talent and academic exchange between Singapore and China in the maritime sector. The

China will ban all imports of solid wastes from Jan 1, 2021, authorities have said. It is prohibited to import solid wastes by any means, and it is prohibited to dump, pile up or dispose of solid wastes outside China. The total ban is the c

Benchmark iron ore futures in China surged more than 7% on Thursday to hit a contract high, as speculative buying was fuelled by expectations that a recovering economy would lead to strong demand for the steelmaking ingredient. The most act

The Asia-Pacific Long Range 1, or LR1, tanker rates have hit their highest in over six months as many ships have been taken up for loading oil products out of China, delaying their return to the Persian Gulf, market participants said Dec. 1

ReCAAP Information Sharing Centre today issued the November 2020 Report as well as an accompanying set of presentation slides on the situation of piracy and armed robbery against ships in Asia. Summary of Situation of Piracy and Sea Robbery

Borders are closed, crew change prohibited and even if you manage to find a window of opportunity to disembark, there may be zero chance for a direct flight home. Since COVID-19 spiralled out of control, border restrictions have routinely p

The shockwave from Chinas de-facto ban on Australian coal imports is still rippling through the coal market as price volatility continues and trade flows are adjusting. China domestic coal prices have moved northwards since their nadir Apri

On December 9, China completed the development and delivery of its first INF3 class dedicated spent fuel transport ship, marking that China has acquired the ability to transport spent fuel by sea. The special spent fuel transport ship adopt

Norwegian energy major Equinor has signed a deal with Yxney to roll out the Maress software for data driven decarbonization for their chartered offshore service fleet operating in Norway. The new contract is a timely fit with Equinors expre

On December 8, SIPG, COSCO Shipping and other enterprises jointly initiated the establishment of Chinas state-owned enterprise mixed ownership reform fund Co., LTD. The registered capital of the company is 70.7 billion yuan, and SIPG plans

On International Anti-Corruption Day 2020 (9 December), IMO Secretary-General Kitack Lim has highlighted the Organizations support for the fight against corruption in all its forms. In his statement issued on the Day, Mr. Lim acknowledged t