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Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
 KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy – ‘Trial by Media, Trial by Law*’, simulating a marine casualty and arbitration to delegates at the Jumeirah Beach Hotel, Dubai. A professional, innovative and creative production not only gave a realistic portrayal of the events following a maritime casualty but enabled the audience to participate with well posed questions by way of interactive voting meters.
Based on a true event, this realistic account of a maritime casualty was narrated by Lindsay East, Consultant, Reed Smith, London. The vessel ‘Idle Star’ having loaded with sugar in Thailand and heading to the discharge port, had grounded on a river bed on the West Coast of California in an area of natural beauty. While there were no human casualties, there was a significant bunker spill and with a fast flowing river the environmental implications to wildlife and the local community were huge.
As the story unfolded, the owner representative, played by John Tsatsas from London and the charterers representative played by Han van Blanken from Rotterdam, portrayed each stage from the initial Captain’s call. With the initial limited information, the chain of events were shown to unfold as the owner and charterer brought in assistance and sought advice from P&I, lawyers, classification society, hull and machinery insurers, local agents and representatives and demonstrated how the process evolved as more information became available, giving an overview of the practicalities involved in the process. The expert advice to the owner and charterer was provided by video clips of real practitioners in conversation with the two stage actors.
The casualty centred on whether the destination port was ‘safe’. It was known to have a low draft and underwater obstructions that shifted and were uncharted. The vessel therefore had to not only be of certain specification when laden but also the conditions of making the final part of the voyage through those water needed to be assessed with the latest information available to see if the port was suitable for discharge. The owners proceeded to complete the voyage and the vessel ran aground so who was liable? The Master for proceeding with the voyage despite concerns or the charterer for the choice of a difficult destination with the cargo in mind?
With neither the owner or charterer accepting liability and indeed blaming each other, this session focussed on two areas; media and how if not handled correctly incidents can become a media and public relations nightmare and legal arbitration, examining the legalities of the charter agreement and how this would be dealt with by the legal system.
The morning session focussed on ‘Trial by Media’ and with neither party having any crisis management or PR in place, the simulated public backlash of the environmentalists, shrimp farmers and the local community as pollution grew, quickly escalated without an appropriate, measured response. Julian Bray, Tradewinds Editor-in-chief portrayed the media, keen for a story, blame and clearly supporting the affected parties who were keen for compensation.
The clear message of the morning session was that handling media during such an incident is a serious matter and can easily spiral out of control. Media will always seek to sensationalise and exploit sensitive areas and it is very easy to say the wrong things however well intentioned. Advice was to be well prepared, seeking professional crisis management to enable you to get every step right and above all, be honest. By knowing the all facts, you can provide just enough factual information and slow the media frenzy down.
The afternoon session ‘Trial by Law’ consisted of a panel of three maritime arbitrators, presided by Jude Benny, from Singapore, Bruce Harris from London and Jack Warfield from New York.
The owner sought indemnity from the charterer and the case was to ascertain whether the port was unsafe, whether the charterer was in breach of the agreement by ordering the ship to go there and whether that caused the loss.
Chirag Karia, a QC from London, counsel for the owner, put forward a strong case after witness testimonies that the owner had expressed concerns to the charterer which has gone unresolved. There had been correspondence regarding the draft of the port and that the waters were uncharted and the charterer had been asked to arrange lightening and/or a harmless agreement to indemnify the owner from any losses should there be a problem. The charterer did not lighten and was confident there would be no issue with the voyage, however did not confirm any harmless agreement which the owner assumed from their conversations. He argued that by sending the vessel to its destination the charterers were sending the vessel to an unsafe port and the owners had been commercially pressured to continue.
Nevil Phillips a barrister from London, counsel for the charterer, argued the defence with regard to whether the port was safe at the time of nomination and that the owners had a responsibility to ensure the vessel was laden appropriately to ensure safe passage. The owners should have reduced the cargo and taken further action to avoid such an incident and the Master was negligent in not doing so, causing the vessel to ground. Ultimately it was the owner’s decision to continue with the voyage with the known risks and any negligence by the Master obliterates any question of safety.
The arbitrators retired to consider their findings, each from the perspective of their own jurisdictions, and the audience were able to vote on their own judgment, finding in favour of the owner. However on returning the arbitrators, giving three separate judgments found in favour of the charterer by two to one on the basis that the grounding was found to be in general down to the Master’s negligence. Jude Benny summing up said “There were sufficient red light warnings and with good seamanship this could have been avoided.”
There was a lively question and answer session to close the session and attendees found the day both enlightening and informative. The new style of interactive session proved popular with attendees and the final vote was to definitely repeat such an event next time.
Source: BIMCO / Hellenic Shipping
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Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
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