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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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- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
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