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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Planning Commission, India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- The University of Queensland
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
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