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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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- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
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