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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.
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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
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