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Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
 Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use of electronic documentation, particularly in the dry cargo sector, has resulted in a growing user demand from owners and charterers.
In response to this demand, BIMCO brought together a group of charterers and owners to develop a new clause for charter parties that specifically addresses the use of electronic bills of lading (paperless trading) systems.
Today there are two platforms at the forefront of developments in electronic bill of lading systems - essDOCS and Bolero – both of which have been approved by the International Group of P&I Clubs (“the International Group”) as well as by P&I Clubs outside the group.
The use of electronic bills of lading is said to offer benefits both to charterers and owners in streamlining the documentation process and reducing the risk of fraud. The purpose of BIMCO’s new Electronic Bills of Lading Clause is to provide a contractual agreement to permit the use by charterers of the essDOCS and Bolero systems for bills of lading, waybills and delivery orders. The clause effectively confers on electronic bills of lading the same status as paper bills of lading under the terms of the charter party.
The full wording of the Electronic Bills of Lading Clause is as follows:
BIMCO Electronic Bills of Lading Clause
(a) At the Charterers’ option, bills of lading, waybills and delivery orders referred to in this Charter Party shall be issued, signed and transmitted in electronic form with the same
effect as their paper equivalent.
(b) For the purpose of Sub-clause (a) the Owners shall subscribe to and use Electronic (Paperless) Trading Systems as directed by the Charterers, provided such systems are
approved by the International Group of P&I Clubs. Any fees incurred in subscribing to or for using such systems shall be for the Charterers’ account.
(c) The Charterers agree to hold the Owners harmless in respect of any additional liability arising from the use of the systems referred to in Sub-clause (b), to the extent that such
liability does not arise from Owners’ negligence.
A BIMCO Special Circular containing the full wording of the Electronic Bills of Lading Clause with an accompanying explanatory note can be downloaded at BIMCO’s website.
The Position of the P&I Clubs within the International Group with regard to paperless trading already from 1998, the Association together with other P&I Clubs in the International Group has reviewed progress on electronic trading systems. Please find Circulars from 11 December 1998 and 5 October 1999 (and subsequent circulars) on our website.
Until February 2010, the Rules of all of the Clubs comprising the International Group specifically excluded liabilities in respect of the carriage of cargo under all electronic trading systems to the extent that the liabilities under such systems would not have arisen under a ‘normal’ paper system, using transferable paper documentation.
The International Group, after reviewing a number of electronic trading systems, agreed in 2010 that liabilities arising in respect of the carriage of cargo under such systems would be covered from 20 February 2010 provided that the system had first been approved by the International Group. The Circular can be found on Skuld’s website.
Approved Systems
The two systems currently approved by the International Group are the ones administered by - essDOCS version called DSUA 2013.1 (into effect as of 18 March) and it enables electronic trading both in respect of bills of lading and waybills. This version supersedes the essDOCS previous electronic trading system version DSUA 2009.3, which remains approved for the purposes of Club cover (cf. the 2013 Circulariv) and - Bolero International Ltd. (the Bolero system – Rulebook/Operating Procedures, September 1999).
Cover Position
Members should be aware that traditional exclusions of cover under Club Rules relating to the
carriage of cargo, will of course continue to apply in respect of essDOCS and Bolero in the same way as for paper systems, e.g. discharge at a port or place other than the port or place provided for in the contract of carriage, the issue/creation of an ante- or post-dated electronic document/record, delivery of cargo without the production of the negotiable electronic document/record.
Non-covered Risks
The 2010 and 2013 Circulars also clarify that using an electronic bill of lading may expose members to liabilities which are not of a traditional P&I nature.
This is a reference to the types of liabilities members face when using any electronic system or electronic interface in their office or on their ships, for example the risk of viruses, “hacking”, or the accidental release or theft of information.
Further liabilities may include, for example, those which arise under the contractual arrangements, which members have to make directly with the system operator (Bolero or essDOCS or other, non-approved systems), such as obligations to maintain computer links, or the introduction of a virus within the operator’s or a user’s system.
The user agreements also contain undertakings of confidentiality and could give rise to liabilities, if broken. All of these risks are non-marine risks, and may be covered by members’ own business insurances. These are not in the nature of P&I risks. In insurance terms, they may be described as “cyber-risks” or business risks.
Please find further helpful information about paperless trading in the International Group’s FAQs dated 6 August 2013. In addition, BIMCO has compiled a list of FAQs for its members that answer many of the questions about the use of electronic bills of lading.
Feedback requested
Finally, the Association encourages its members who are using either of the two approved electronic trading systems, to report to us that they are doing so and of any benefits or difficulties which they encounter, legal or practical, in the operation of either system. This information would be helpful to the International Group, in monitoring the use and development of the two systems.
Practical Advice on how paperless trading works
We recommend that members consult the websites from those organisations providing the two systems that are approved by the International Group to familiarise themselves with the systems and how paperless trading works.
Source: Skuld / Hellenic Shipping
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Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Planning Commission, India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
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