International News

Overall shipping confidence levels rose in the three months ended August 2015 to their highest level this year, according to Moore Stephen’s latest Shipping Confidence Survey. Respondents to the survey were concerned predominantly about low freight rates and overtonnaging, with continuing doubts also expressed about private equity funding. In August 2015, the average confidence level expressed by respondents in the markets in which they operate was 5.9 on a scale of 1 (low) to 10 (high). This compares to the 5.3 recorded in May 2015, which equalled the lowest figure recorded in the life of the survey, launched in May 2008 with a confidence rating of 6.8. All main categories of respondent recorded an increase in confidence this time, most notably charterers (up from 4.2 to 6.5) and owners (up from 5.1 to 5.8). The confidence of brokers, meanwhile, was up from 4.8 to 5.2, and that of managers from 6.1 to 6.4. Geographically, confidence was up in Asia from 4.9 to 5.8, in Europe from 5.3 to 5.9, and in North America from 6.0 to 6.3.

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The International Maritime Organization (IMO) has taken action to warn ship Masters of the possible dangers of liquefaction associated with carriage of bauxite, following consideration of findings from the investigation into the loss of the 10-year-old Bahamas flag bulk carrier Bulk Jupiter, which was carrying 46,400 tonnes of bauxite when it sank rapidly with 18 fatalities in January 2015.

A circular approved by IMO’s Sub-Committee on Carriage of Containers and Cargoes (CCC), meeting this week at IMO Headquarters, warns ship Masters not to accept bauxite for carriage unless:

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