COALspot.com keeps you connected across the coal world
  • AUGUST 2019 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS AND DOMESTIC BUYERS EXCEPT POWER PRODUCERS FIXED AT US$ 72.67 A TON
  • SHARE YOUR CORPORATE COAL & SHIPPING NEWS WITH US - NEWS@COALSPOT.COM
  • WE WELCOME ARTICLE SUBMISSIONS FROM EXPERTS IN THE AREAS OF COAL, MINING, SHIPPING, ETC.

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
BIMCOAs the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in the charter parties. The time to start thinking about what is in the charter party is not 1 January 2020. There will be an important transitional period in the run up to this date, during which owners and charterers need to prepare and plan for the switch to compliant fuels.
 
Many older forms of standard time charter parties do not contain the detailed and comprehensive provisions required to deal with modern bunkering issues. The industry needs to start thinking now about the implications of low-sulphur fuel requirements on long-term contracts of affreightment (COAs) and time charters that may begin before 2020, to avoid contractual disputes.
 
It is vital that charter parties and COAs make it very clear that the specifications of the fuel supplied to the ship by the charterers must be compliant. Many older standard forms do not have any provisions concerning fuel types, specifications, sampling and testing – but all these aspects need to be addressed.
 
BIMCO plans to supplement its existing suite of bunker clauses with a new clause dealing specifically with the 2020 global sulphur cap. Work on this high-priority new clause begins in September.
 
Who picks up the fine if the fuel is not compliant?
From 2020, it will be the shipowners’ responsibility to make sure the ship is compliant with the new low-sulphur fuel regulations – so the shipowner will be the one who is fined if the ship is caught without the right fuel on board. That makes the owner very dependent on the time charterer to provide the right type of fuel, and if the charter party is vague – or does not deal with the issue – there will be disputes.
 
The industry needs a clause stating that, if the charterer does not deliver the right type of fuel, he will protect the owner from any consequences or fines if he gets caught by port state control. Such a clause also needs to deal with the potential complications of the many ways of formulating low-sulphur fuels. BIMCO’s head of contracts and clauses, Grant Hunter, says the industry does not yet fully understand what the effect might be on engines, even if the same type of fuel is mixed, but from different batches.
 
“If there is a delay or a problem with the engine because the fuel has been mixed – even if that fuel is compliant – who will pick up the cost for the delay? These types of questions are becoming urgent as we go through the transitional period,” Hunter adds.
 
“You cannot wait until 1 January 2020 to switch to these new fuels; you might be halfway across the Pacific, and you need the right type of fuel on board before finding yourself there. You will need to start before you are legally obliged to.”
 
Scrubbers – should the bill be shared?
Another area that BIMCO will be examining is the use of scrubbers. Some owners may decide to fit a scrubber on the vessel and, so, continue to use heavy fuel oil instead of buying the compliant, but more expensive, low-sulphur fuel. If a scrubber is installed during a long-term time charter contract, should the time charterer contribute to the cost of the scrubber?
 
“If the ship has a scrubber system, the charterer will benefit in the short term because they can continue to buy and use heavy fuel oil – which, initially, will be much cheaper than 0.5% low-sulphur fuel. The shipowner may then ask if that is fair, or if the parties ought to share the cost of fitting a scrubber on the vessel,” Hunter says, adding that such a cost-sharing agreement must be specified in the contract.
 
For these and many other reasons, BIMCO has gathered together an expert team of representatives – from shipowners, charterers, technical experts, and lawyers – with P&I Clubs to look after the insurance aspect. The group will start working on the new clause in September, with the aim of producing the clause as quickly as possible to help minimise the number of disputes as the 2020 sulphur cap deadline closes in on the industry.
Source: BIMCO Bulletin, By Mette Kronholm Fraende, Communications Manager at BIMCO


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.   ...


Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...


Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...


Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...


Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah.  The tankers hit were waiving international flags such as that of No ...


   1 2 3 4 5   
Showing 1 to 5 news of total 5523
News by Category
Popular News
 
Total Members : 26,432
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Kobe Steel Ltd - Japan
  • Asmin Koalindo Tuhup - Indonesia
  • Pendopo Energi Batubara - Indonesia
  • Orica Mining Services - Indonesia
  • Meenaskhi Energy Private Limited - India
  • ETA - Dubai
  • Inco-Indonesia
  • Core Mineral Indonesia
  • Formosa Plastics Group - Taiwan
  • Vizag Seaport Private Limited - India
  • Pinang Coal Indonesia
  • South Luzon Thermal Energy Corporation
  • Antam Resourcindo - Indonesia
  • Russian Coal LLC
  • Surastha Cement
  • Kohat Cement Company Ltd. - Pakistan
  • Bukit Makmur.PT - Indonesia
  • Parry Sugars Refinery, India
  • Sinarmas Energy and Mining - Indonesia
  • Japan Coal Energy Center
  • Argus Media - Singapore
  • PetroVietnam
  • Straits Asia Resources Limited - Singapore
  • Reliance Power - India
  • globalCOAL - UK
  • Miang Besar Coal Terminal - Indonesia
  • Sakthi Sugars Limited - India
  • Berau Coal - Indonesia
  • KEPCO - South Korea
  • Deloitte Consulting - India
  • Arch Coal - USA
  • McConnell Dowell - Australia
  • Ministry of Finance - Indonesia
  • U S Energy Resources
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Chettinad Cement Corporation Ltd - India
  • Orica Australia Pty. Ltd.
  • Adani Power Ltd - India
  • European Bulk Services B.V. - Netherlands
  • Sree Jayajothi Cements Limited - India
  • ING Bank NV - Singapore
  • OCBC - Singapore
  • Karbindo Abesyapradhi - Indoneisa
  • Vijayanagar Sugar Pvt Ltd - India
  • ACC Limited - India
  • ASAPP Information Group - India
  • Manunggal Multi Energi - Indonesia
  • Holcim Trading Pte Ltd - Singapore
  • Planning Commission, India
  • Australian Commodity Traders Exchange
  • GHCL Limited - India
  • Posco Energy - South Korea
  • Timah Investasi Mineral - Indoneisa
  • Ministry of Transport, Egypt
  • Electricity Generating Authority of Thailand
  • Shree Cement - India
  • Kobexindo Tractors - Indoneisa
  • Asian Development Bank
  • Kumho Petrochemical, South Korea
  • Idemitsu - Japan
  • OPG Power Generation Pvt Ltd - India
  • Gujarat Mineral Development Corp Ltd - India
  • Toyota Tsusho Corporation, Japan
  • Maheswari Brothers Coal Limited - India
  • Anglo American - United Kingdom
  • CCIC - Indonesia
  • Mercuria Energy - Indonesia
  • Chamber of Mines of South Africa
  • Economic Council, Georgia
  • Tamil Nadu electricity Board
  • Indonesia Power. PT
  • Jorong Barutama Greston.PT - Indonesia
  • Indika Energy - Indonesia
  • Gujarat Sidhee Cement - India
  • India Bulls Power Limited - India
  • Grasim Industreis Ltd - India
  • Coal Orbis AG
  • Indian Oil Corporation Limited
  • Gresik Semen - Indonesia
  • Karaikal Port Pvt Ltd - India
  • Jatenergy - Australia
  • APGENCO India
  • International Coal Ventures Pvt Ltd - India
  • McKinsey & Co - India
  • TeaM Sual Corporation - Philippines
  • Sindya Power Generating Company Private Ltd
  • RBS Sempra - UK
  • Videocon Industries ltd - India
  • Malabar Cements Ltd - India
  • Qatrana Cement - Jordan
  • Shenhua Group - China
  • Fearnleys - India
  • World Coal - UK
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Star Paper Mills Limited - India
  • NALCO India
  • Interocean Group of Companies - India
  • Uttam Galva Steels Limited - India
  • Eastern Energy - Thailand
  • Geoservices-GeoAssay Lab
  • Eastern Coal Council - USA
  • Sojitz Corporation - Japan
  • PowerSource Philippines DevCo
  • IMC Shipping - Singapore
  • New Zealand Coal & Carbon
  • Energy Link Ltd, New Zealand
  • Freeport Indonesia
  • Alfred C Toepfer International GmbH - Germany
  • Cardiff University - UK
  • SMG Consultants - Indonesia
  • Samsung - South Korea
  • Rudhra Energy - India
  • WorleyParsons
  • White Energy Company Limited
  • IBC Asia (S) Pte Ltd
  • PLN Batubara - Indonesia
  • Xstrata Coal
  • Carbofer General Trading SA - India
  • UOB Asia (HK) Ltd
  • Infraline Energy - India
  • Thai Mozambique Logistica
  • Rashtriya Ispat Nigam Limited - India
  • Bahari Cakrawala Sebuku - Indonesia
  • Malco - India
  • Rio Tinto Coal - Australia
  • Savvy Resources Ltd - HongKong
  • Aboitiz Power Corporation - Philippines
  • Commonwealth Bank - Australia
  • Africa Commodities Group - South Africa
  • Bangkok Bank PCL
  • Mitsui
  • Kideco Jaya Agung - Indonesia
  • EIA - United States
  • Aditya Birla Group - India
  • Bukit Asam (Persero) Tbk - Indonesia
  • Banpu Public Company Limited - Thailand
  • SGS (Thailand) Limited
  • Vedanta Resources Plc - India
  • Neyveli Lignite Corporation Ltd, - India
  • Price Waterhouse Coopers - Russia
  • Mjunction Services Limited - India
  • Standard Chartered Bank - UAE
  • Mechel - Russia
  • IHS Mccloskey Coal Group - USA
  • Attock Cement Pakistan Limited
  • GB Group - China
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • ICICI Bank Limited - India
  • Mitra SK Pvt Ltd - India
  • SUEK AG - Indonesia
  • Intertek Mineral Services - Indonesia
  • Simpson Spence & Young - Indonesia
  • Global Coal Blending Company Limited - Australia
  • GAC Shipping (India) Pvt Ltd
  • IEA Clean Coal Centre - UK
  • Siam City Cement PLC, Thailand
  • Indonesian Coal Mining Association
  • Cosco
  • Siam City Cement - Thailand
  • BRS Brokers - Singapore
  • GMR Energy Limited - India
  • Bhoruka Overseas - Indonesia
  • PetroVietnam Power Coal Import and Supply Company
  • Maruti Cements - India
  • Lafarge - France
  • Coastal Gujarat Power Limited - India
  • CIMB Investment Bank - Malaysia
  • Gupta Coal India Ltd
  • Runge Indonesia
  • Minerals Council of Australia
  • Petrosea - Indonesia
  • Riau Bara Harum - Indonesia
  • Petrochimia International Co. Ltd.- Taiwan
  • Sucofindo - Indonesia
  • EMO - The Netherlands
  • Cemex - Philippines
  • Leighton Contractors Pty Ltd - Australia
  • Adaro Indonesia
  • Edison Trading Spa - Italy
  • Indorama - Singapore
  • Platts
  • Jaiprakash Power Ventures ltd
  • Total Coal South Africa
  • The University of Queensland
  • Cigading International Bulk Terminal - Indonesia
  • Latin American Coal - Colombia
  • ANZ Bank - Australia
  • Ambuja Cements Ltd - India
  • J M Baxi & Co - India
  • bp singapore
  • Bukit Baiduri Energy - Indonesia
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Central Electricity Authority - India
  • Coaltrans Conferences
  • DBS Bank - Singapore
  • Coal India Limited
  • Salva Resources Pvt Ltd - India
  • Directorate Of Revenue Intelligence - India
  • Power Finance Corporation Ltd., India
  • Medco Energi Mining Internasional
  • Platou - Singapore
  • IOL Indonesia
  • TANGEDCO India
  • Billiton Holdings Pty Ltd - Australia
  • TNPL - India
  • Heidelberg Cement - Germany
  • Krishnapatnam Port Company Ltd. - India
  • Bayan Resources Tbk. - Indonesia
  • Madhucon Powers Ltd - India
  • Goldman Sachs - Singapore
  • Bulk Trading Sa - Switzerland
  • Marubeni Corporation - India
  • GNFC Limited - India
  • Romanian Commodities Exchange
  • Jindal Steel & Power Ltd - India
  • Maersk Broker
  • Thiess Contractors Indonesia
  • Bharathi Cement Corporation - India
  • BNP Paribas - Singapore
  • Directorate General of MIneral and Coal - Indonesia
  • Tanito Harum - Indonesia
  • Gujarat Electricity Regulatory Commission - India
  • Mitsubishi Corporation
  • CNBM International Corporation - China
  • Merrill Lynch Bank
  • SASOL - South Africa
  • London Commodity Brokers - England
  • Kapuas Tunggal Persada - Indonesia
  • The State Trading Corporation of India Ltd
  • Vitol - Bahrain
  • Cement Manufacturers Association - India
  • Borneo Indobara - Indonesia
  • Kaltim Prima Coal - Indonesia
  • Altura Mining Limited, Indonesia
  • LBH Netherlands Bv - Netherlands
  • Bangladesh Power Developement Board
  • PLN - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Wilmar Investment Holdings
  • Lanco Infratech Ltd - India
  • Maharashtra Electricity Regulatory Commission - India
  • Coal and Oil Company - UAE
  • Ind-Barath Power Infra Limited - India
  • Permata Bank - Indonesia
  • Deutsche Bank - India
  • World Bank
  • Ministry of Mines - Canada
  • Tata Chemicals Ltd - India
  • Asia Cement - Taiwan
  • Indogreen Group - Indonesia
  • Port Waratah Coal Services - Australia
  • Thomson Reuters GRC
  • Essar Steel Hazira Ltd - India
  • Renaissance Capital - South Africa
  • Moodys - Singapore
  • Agrawal Coal Company - India
  • Bank of China, Malaysia
  • Panama Canal Authority
  • Noble Europe Ltd - UK
  • Glencore India Pvt. Ltd
  • PNOC Exploration Corporation - Philippines
  • The Treasury - Australian Government
  • Humpuss - Indonesia
  • CoalTek, United States
  • Coalindo Energy - Indonesia
  • Xindia Steels Limited - India
  • KOWEPO - South Korea
  • Trasteel International SA, Italy
  • TNB Fuel Sdn Bhd - Malaysia
  • Maybank - Singapore
  • Ince & co LLP
  • Bhushan Steel Limited - India
  • Tata Power - India
  • KPMG - USA
  • HSBC - Hong Kong
  • Clarksons - UK
  • Vale Mozambique
  • Indo Tambangraya Megah - Indonesia
  • KPCL - India
  • Mintek Dendrill Indonesia
  • Wood Mackenzie - Singapore
  • Parliament of New Zealand
  • PTC India Limited - India
  • Arutmin Indonesia
  • Australian Coal Association
  • Bhatia International Limited - India
  • NTPC Limited - India
  • Ernst & Young Pvt. Ltd.
  • Indian School of Mines
  • Thermax Limited - India
  • Barclays Capital - USA
  • Kartika Selabumi Mining - Indonesia
  • Oldendorff Carriers - Singapore
  • Singapore Mercantile Exchange
  • Kalimantan Lumbung Energi - Indonesia
  • JPMorgan - India
  • Inspectorate - India
  • MS Steel International - UAE
  • Central Java Power - Indonesia
  • Cargill India Pvt Ltd
  • Independent Power Producers Association of India
  • Merrill Lynch Commodities Europe
  • GVK Power & Infra Limited - India
  • Samtan Co., Ltd - South Korea
  • Dalmia Cement Bharat India
  • Globalindo Alam Lestari - Indonesia
  • Metalloyd Limited - United Kingdom
  • Makarim & Taira - Indonesia
  • Britmindo - Indonesia
  • VISA Power Limited - India
  • Larsen & Toubro Limited - India
  • Binh Thuan Hamico - Vietnam
  • UBS Singapore
  • Ceylon Electricity Board - Sri Lanka
  • Barasentosa Lestari - Indonesia
  • CESC Limited - India
  • Thailand Anthracite
  • Enel Italy
  • MEC Coal - Indonesia
  • Georgia Ports Authority, United States
  • Coeclerici Indonesia
  • Sical Logistics Limited - India
  • Mercator Lines Limited - India
  • Credit Suisse - India
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • SRK Consulting
  • Thriveni
  • JPower - Japan
  • The India Cements Ltd
  • Peabody Energy - USA
  • Bank of America