We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 3341 to 3345 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- The University of Queensland
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
|
| |
| |
|
