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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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Showing 3386 to 3390 news of total 6871 |
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- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
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