BIMCO is the world’s largest international shipping association, with 2,100 members in around 130 countries. Its global membership includes shipowners, operators, managers, brokers and agents.

OPINION | Trade tensions and rising risks lead to slowing growth

The International Monetary Fund (IMF) has revised down its predictions for global growth in 2019 and 2020. It forecasts growth to be 3.5 per cent in 2019 and 3.6 per cent in 2020. This means a dampening of global growth over the next two years, as growth in 2018 is estimated to be 3.7 per cent The slowdown will affect both advanced and emerging economies.

BIMCO: Tanker Shipping: only fundamental improvements last

Crude oil tanker freight rates made an exceptional comeback in October. Monthly average earnings for a VLCC in April and May were below US$4,000 per day; in June and July, they had moved up to a still sluggish level at US$7,000-8,000 per day; and August and September saw levels around US$11,000 per day – all in the loss-making territory. But then, October saw average earnings shoot up to US$33,500 per day.

OPINION | Bad crude oil tanker market struggles to find solid support

Crude oil tanker earnings have since records began, never been this bad. Earnings for very large crude carriers (VLCCs) in the first half of 2018 were as low at US$6,001 per day on average, with a Suezmax tanker earning US$10,908 per day and an Aframax making US$9,614 per day – All heavily loss-making levels for an industry which needs a much-improved fundamental market balance to lift freight rates above break-even levels into profitable territory.

OPINION | The trade war is all about the eastbound trans-Pacific trade lane

When two of the world’s top trading partners get entangled in a stand-off, where the outbreak of a trade war could become the extended tool of intense negotiations, we’d better prepare for what may come. While hoping that it will never take place. The US is China’s largest trading partner measured by value – and China is the largest one-country trading partner that the US has.

OPINION: Macroeconomics: Labour market tightens but inflation remains subdued around the globe

BIMCO reported in our previous macroeconomics report in April 2017 that monthly indicators were showing a strengthening in the global economy. The firm growth dynamics in advanced economies have now, four months later, had a cascade effect on some emerging markets and developing economies (EMDE). This solid growth has sparked an appetite for EMDE assets and indicates that the market expects a pickup.

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