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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, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The University of Queensland
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
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