We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
 BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party – LNGVOY – designed for the expanding LNG spot market. During the development process, BIMCO and GIIGNL consulted with the industry globally to gather a clear picture of how an LNG voyage charter party should work in practice. Careful account was taken of the interests of both owners and charterers to create a balanced and clearly worded agreement.
One of the main goals of LNGVOY is to provide a charter party whereby the charterer can assess, with a greater degree of accuracy, the cost of transporting LNG from A to B and/or C.
Four main issues inherent in LNG shipping have been addressed for voyage charters:
a “boil-off” cap whereby both owner and charterer agree on a negotiated maximum quantity of boil-off over the voyage. In case the cap is exceeded, a compensation structure, agreed during negotiations, is applied, subject to a few limited exceptions.
LNG Heel at the commencement and completion of the voyage – it was considered that legal title (ie ownership) to the heel should remain with the owner throughout the charter and that there would be a balancing payment between the quantities remaining on board, again, at the commencement and completion of the voyage. This arrangement helps avoid potential issues with administration and bills of lading etc.
Presentation – condition of the cargo tanks on arrival at the loading port is now covered. The costs involved can be handled adequately under a voyage charter as opposed to a time charter trip covering the three potential conditions:
– cooled down ready to load
– warm under natural gas vapours
– warm and inerted.
Arrival at discharge port – given the inherent nature of the cargo, scheduling of arrival times at discharge carries great importance and delays can be very costly. As a result, most voyages have a specific delivery window and risks of delay and ensuing boil-off have been allocated.
Chairman of the LNGVOY drafting group, Rodney Hyne-Jones, formerly of Exmar, said:
“LNGVOY is equitable to both owners and charterers and provides a solid contractual platform for the transportation of LNG in an ever-growing spot market. It enables all parties to handle the costs involved in a more precise way.”
According to Vincent Demoury, General Delegate, International Group of Liquefied Natural Gas Importers:
“GIIGNL hopes that a pro forma voyage charter dedicated to carriage of LNG will assist the LNG industry in maximising opportunities for the sale of spot cargoes and the carriage of LNG on simple, predictable terms.”
Grant Hunter, BIMCO Chief Officer Legal and Contractual Affairs added:
“BIMCO is delighted to have had the opportunity to work together with GIIGNL on this project to develop a viable standard voyage charter party for the LNG trade. “LNGVOY is the product of several years’ worth of thorough discussion. It’s something completely new for the LNG sector which has, until now, relied primarily on trip time charters for spot market opportunities.
“This new charter party gives owners and charterers another alternative when deciding on the most appropriate terms for their LNG transportation needs.
Source: BIMCO
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
|
|
|
Showing 2501 to 2505 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- The University of Queensland
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
|
| |
| |
|
