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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- The University of Queensland
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
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