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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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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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Showing 3651 to 3655 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
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