We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
 The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great impact on shipping and international trade. The current contagion is focused in Liberia, Guinea and Sierra Leone as well as in Nigeria and Senegal, resulting in the development of fear-filled climate. Numerous nations have put in force several regulations and conventions for vessels that are or have recently called W. African ports. The WHO, ICS, IMEC and ITF have issued advices, focusing on precautions to be taken (i.e. restrictive crew changes, shore access, interaction with stevedores), safety (i.e. vigilance against stowaways and employment of the ISPS Code) and contingency planning.
Owners are widely confronted with the dilemma of whether or not to proceed to a port where their crews may be exposed to the risk of Ebola. Under a time charter scheme, an owner is bound to comply with Charterer’s orders but can refuse so when the vessel is exposed to safety risks. Charterer’s commitment is to order the vessel to a “safe” port and the issue in question is whether or not an Ebola infected port may be declared as “unsafe”. A “safe” port is defined as per the Eastern City case as follows; “A port will not be safe unless, in the relevant period of time, a particular ship can reach it, use it and return from it without, in the absence of some abnormal occurrence, being exposed to danger which cannot be avoided by good navigation and seamanship". Therefore, there is some legitimacy in the suggestion of deeming a port “unsafe”. On the contrary, in light of the fact that WHO has advised measures to avoid infection, declaring a port as “unsafe” seems challenging and subject to the risk status of each port. The situation under voyage charters is still ambiguous, as Owner’s failure to proceed to a nominated port by the Charterer may constitute a breach of contract. Consequently, this may give the Charterer ground to claim damages, unless the charter party is sustained by a deviation clause or a force majeure clause.
Owners are committed under the bill of lading to deliver and care for the cargo onboard, while any inconsistency from the agreed contract of carriage may prejudice the Member’s P&I cover. If the B/Ls do not allow the unloading at a different port, Owners may be liable to the cargo receivers for certain losses emerging from deviation and/or delay and/or any local law that may be in force. However, under English and U.S law Owners seek indemnity from Charterers for losses or damages incurred by complying with Charterers’ orders. In the event of a crewmember infection, the Owner should ensure removal from the vessel. Under a time charter and in the absence of an express clause, the Owner will be liable for costs related to the welfare of the crew. If infection occurs after Charterer's orders to an affected port, then Owner may be able to claim expenses subject to the agreed C/P.
WAF ports are increasing screenings prior to granting Free-Pratique. Notably, before and after a vessel calls a high risk port, parties should be prepared for delays and long quarantines, while authorities inspect the vessel and crew. Outside of WAF, Barbados, Brazil, Argentina, South Africa and the US, all have implemented mandatory inspection policies.
Tackling the issue at hand is further inhibited by the fact that at this time there isn't sufficient case law or authority on whether and when a port can be declared as “unsafe”. This makes any analysis somewhat subjective and open to interpretation when the governing charter party does not contain specific clauses addressing the risks, delays or liabilities associated with the virus. Owners/Charterers with vessels trading at Ebola infected / high risk WAF ports may see price variation of goods exported or imported and on freight rates, all of which will affect commodity sellers and buyers.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
|
|
|
Showing 3261 to 3265 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
|
| |
| |
|
