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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, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bhatia International Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
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