Published by Lydia Woellwarth, Deputy Editor
Dry Bulk, Wednesday, 06 January 2021 11:30
The British Ports Association’s Chief Executive has outlined what the agenda for UK ports will look like during 2021.
The British Ports Association (BPA), which represents 86% of UK port freight activities around the UK, sees the UK’s new trading relationship with the EU bedding in and the mass roll-out of the coronavirus vaccine beginning. However, UK ports might well be looking at a different policy agenda by the end of the year. A sustainable growth agenda and promoting the value of ports and their varied activities will be at the heart of the Association’s work over the next 12 months.
Commenting on the year ahead, the BPA’s Chief Executive, Richard Ballantyne,
Dry Bulk
Published by Will Owen, Assistant Editor
Dry Bulk, Wednesday, 06 January 2021 14:30
The freight derivatives markets for both tankers and dry cargo vessels saw increased traded volumes in 2020, according to data released by the Baltic Exchange.
Tanker Forward Freight Agreement (FFA) volumes were up 31% on the previous year, reaching 603 261 lots, with a daily record of 33 677 lots achieved on 16 March at a time when Time Charter Equivalent earnings for VLCCs exceeded US$275 000.
Dry FFA volumes hit 1.54 million lots, up 17% on 2019. Options trading in the dry market hit an all-time high, up 37% on the previous year to 318 183.
Analyst eeSea said that its Blank Sailings Tracker showed that 1.7% of head haul services on the three main east-west trades have been cancelled in February, which includes CNY, and in March this figure falls to 0.6%.
eeSea said that effective capacity in January 2021 on the main east-west head haul trades was up 7.6%, over the same period in 2020, when Covid-19 was only starting to make an impact on the Chinese market in the run-up to CNY.
The new legislation – Merchant Shipping Bill (MSB) 2020 – is meant to replace existing policies that were enacted several decades ago under the Merchant Shipping Act (MSA) 1958. The MSA is set to be repealed.
The policymakers have set the stage for a regulatory framework to create greater transparency into ocean carrier pricing for export-import and domestic cargo transportation – an issue that has historically been complex and acrimonious.
“Every service provider or agent, in respect of any Indian ship or other ship