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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
 KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a time charterers’ bankruptcy which is then later compounded by the arrest of their vessel by suppliers because the charterers have failed to pay for bunkers. A bunker supplier’s ability to arrest a vessel stems from a right of lien or retention over the bunkers that can be enforced in some, but not all jurisdictions, even though the owners are not a party to the bunker supply contract. The Bunker Non-Lien Clause is an attempt to introduce a step-change into this process by requiring time charterers to put their bunker suppliers on notice, prior to agreeing any bunker supply, that the bunkers will be bought solely on the charterers’ account.
According to Grant Hunter, Chief Officer of Legal and Contractual Affairs at BIMCO, “It is quite common in the industry for Masters to stamp bunker deliver notes with a statement that the bunkers have been purchased by the charterers and that there is no lien against the vessel. Unfortunately, once the delivery of fuel has taken place, this sort of notice is generally ineffective. The bunker suppliers need to be placed on notice before-hand and this is the practice that the Bunker Non-Lien Clause introduces. The Clause acts as a useful safety-net for owners when concluding a time charter in that solid charterers should have no problem agreeing to such a clause because they will of course pay for the bunkers they order. However, if the financial standing of a charter is in doubt, then they may be more reluctant to accept the responsibilities and liabilities imposed by the clause and this should create a warning flag to owners. Ultimately, if a charterer fails to comply with this clause, a Master has the right to refuse to take delivery of the bunkers – so it is a provision with some teeth”.
The Bunker Non-Lien Clause for Time Charter Parties is now available to download from the clauses section of the BIMCO website and to users of IDEA2. A Special Circular has been issued to members which contains a copy of the clause and explanatory notes setting out the background to the clause.
Source: BIMCO / Hellenic Shipping
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Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- PTC India Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
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