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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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Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
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- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Coal and Oil Company - UAE
- Planning Commission, India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
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