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Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
 BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard Term Sheet and two marine services agreements – one for use in dismantling of offshore oil and gas structures, and the other for spill response equipment and personnel.
Novation Agreements
BIMCO has just published a set of standard novation agreements. They provide a legal framework to change one of the original parties to a contract. Two of the agreements are for a change of charterer/owner. The third covers a change of buyer under a shipbuilding contract.
SUPPLYTIME
The widely used SUPPLYTIME 2005 time charter for offshore service vessels is being updated. A team of industry experts representing owners and charterers has been working on a new edition for the past 12 months. The main focus has been on modernisation and adding greater clarity to the contract, rather than a radical overhaul of its terms and conditions. To reflect changes in commercial practice and legal developments over the past 10 years, the updated edition will feature a number of new clauses that are commonly added as riders.
The drafting team, headed by Ian Perrott, former CEO of Hamburg based ER Offshore, has just completed a first full review of the contract. Later this year, draft copies of the updated SUPPLYTIME will be circulated to a selected industry “sounding board” for feedback and input. The target completion date for the project is May 2017.
BARECON
When it comes to bareboat chartering a ship, the natural choice of contract is BIMCO’s BARECON – which is very much the industry standard agreement for this activity. BARECON was last updated in 2001.
Work on a new edition began earlier this year. The focus so far has been on delivery and redelivery aspects – particularly the condition of the ship and survey and inspection rights.
The drafting team, headed by Captain Ajay Hazari, Director at Anglo Eastern Ship Management in Hong Kong, will also look in detail at the insurance provisions of BARECON.
A first draft of the updated bareboat charter will be shown to BIMCO’s Documentary Committee in November.
WORLDFOOD
The World Food Programme is a UN humanitarian organization with a mandate to fight hunger globally. It buys food and charters ships to send aid to where it is needed. Transport by sea is the main method used for food aid cargoes. The WORLDFOOD charter party, originally developed together with BIMCO in 1986, is used exclusively by the World Food Programme.
The charter party was last updated in 1999. The World Food Programme recently asked BIMCO to help update and modernise the agreement. The Agency requires shipowners to accept a high degree of flexibility to change ports at short notice because of the often volatile areas in which they operate. In this respect the WORLDFOOD charter differs from other standard voyage charters.
The main focus of the update will be to add new editions of some of the older standard clauses found in the charter party – such as War Risks and Law and Arbitration. New clauses will cover issues such as piracy and compliance with the MLC Convention.
The drafting team, headed by Jean-Pierre Laffaye of Louis Dreyfus Armateurs will continue working with World Food Programme representatives to update the charter party. The next meeting will be held in Paris in October.
Standard Term Sheet
BIMCO’s draft Standard Term Sheet has just been positively reviewed by an industry “sounding board” composed of representatives from shipowners, banks, lawyers and other people interested in the term sheet project.
The drafting team will look at all the comments from the “sounding board” at their next meeting at the end of. The outcome of these consultations, together with a revised draft, will be presented to the Documentary Committee at its next meeting in November.
Source: BIMCO
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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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Showing 2401 to 2405 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
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