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Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
 As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in the charter parties. The time to start thinking about what is in the charter party is not 1 January 2020. There will be an important transitional period in the run up to this date, during which owners and charterers need to prepare and plan for the switch to compliant fuels.
Many older forms of standard time charter parties do not contain the detailed and comprehensive provisions required to deal with modern bunkering issues. The industry needs to start thinking now about the implications of low-sulphur fuel requirements on long-term contracts of affreightment (COAs) and time charters that may begin before 2020, to avoid contractual disputes.
It is vital that charter parties and COAs make it very clear that the specifications of the fuel supplied to the ship by the charterers must be compliant. Many older standard forms do not have any provisions concerning fuel types, specifications, sampling and testing – but all these aspects need to be addressed.
BIMCO plans to supplement its existing suite of bunker clauses with a new clause dealing specifically with the 2020 global sulphur cap. Work on this high-priority new clause begins in September.
Who picks up the fine if the fuel is not compliant?
From 2020, it will be the shipowners’ responsibility to make sure the ship is compliant with the new low-sulphur fuel regulations – so the shipowner will be the one who is fined if the ship is caught without the right fuel on board. That makes the owner very dependent on the time charterer to provide the right type of fuel, and if the charter party is vague – or does not deal with the issue – there will be disputes.
The industry needs a clause stating that, if the charterer does not deliver the right type of fuel, he will protect the owner from any consequences or fines if he gets caught by port state control. Such a clause also needs to deal with the potential complications of the many ways of formulating low-sulphur fuels. BIMCO’s head of contracts and clauses, Grant Hunter, says the industry does not yet fully understand what the effect might be on engines, even if the same type of fuel is mixed, but from different batches.
“If there is a delay or a problem with the engine because the fuel has been mixed – even if that fuel is compliant – who will pick up the cost for the delay? These types of questions are becoming urgent as we go through the transitional period,” Hunter adds.
“You cannot wait until 1 January 2020 to switch to these new fuels; you might be halfway across the Pacific, and you need the right type of fuel on board before finding yourself there. You will need to start before you are legally obliged to.”
Scrubbers – should the bill be shared?
Another area that BIMCO will be examining is the use of scrubbers. Some owners may decide to fit a scrubber on the vessel and, so, continue to use heavy fuel oil instead of buying the compliant, but more expensive, low-sulphur fuel. If a scrubber is installed during a long-term time charter contract, should the time charterer contribute to the cost of the scrubber?
“If the ship has a scrubber system, the charterer will benefit in the short term because they can continue to buy and use heavy fuel oil – which, initially, will be much cheaper than 0.5% low-sulphur fuel. The shipowner may then ask if that is fair, or if the parties ought to share the cost of fitting a scrubber on the vessel,” Hunter says, adding that such a cost-sharing agreement must be specified in the contract.
For these and many other reasons, BIMCO has gathered together an expert team of representatives – from shipowners, charterers, technical experts, and lawyers – with P&I Clubs to look after the insurance aspect. The group will start working on the new clause in September, with the aim of producing the clause as quickly as possible to help minimise the number of disputes as the 2020 sulphur cap deadline closes in on the industry.
Source: BIMCO Bulletin, By Mette Kronholm Fraende, Communications Manager at BIMCO
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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Thai Mozambique Logistica
- White Energy Company Limited
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- SMG Consultants - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
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