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BIMCO Reflections 2014
Posted on Wednesday, January 8, 2014 and tagged as Shipping news
BIMCO today publishes 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
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
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/
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