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Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
 To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementation date (or end shortly before), BIMCO has published two bunker clauses (accessible on the BIMCO website):
- The 2020 Marine Fuel Sulphur Content Clause for Time Charter Parties, which replaces the BIMCO Fuel Sulphur Content Clause 2005. This requires charterers to provide fuel that complies with the applicable sulphur cap; and
- The 2020 Fuel Transition Clause for Time Charter Parties, which deals with the one-off event of removing, if necessary, all non-complaint fuel from the vessel.
A third clause dealing with scrubbers is expected to be published by BIMCO early next year. This is likely to propose a regime under which the costs of installing scrubbers are allocated between owners and charterers.
The clauses are to be welcomed by the market as they provide a very helpful starting point for owners and charterers in amending their charterparties to address the different issues arising out of the sulphur cap. However, the BIMCO clauses have generally been drafted with a view to providing what the BIMCO drafting committee consider to be a “fair allocation of responsibilities and liabilities” in line with existing default charterparty contracting positions. Whether individual owners or charterers consider them to be fair, or even want them to be fair, when considering their own operational arrangements is a different matter.
Operators would be well advised not to simply insert the new provisions into their charters. It is probable that they will want to amend the standard wording depending on how they wish to allocate risk and cost. Moreover, owners and charterers must ensure that the new clauses complement, rather than contradict, the other terms of the charter in question. Changes will almost certainly be needed to existing charterparty clauses to avoid disputes arising. For example, the clauses dealing with delay or deviation may need amending to address the risk of shortages in low sulphur fuel in particular ports or regions, force majeure events may need re-defining and the responsibility for payment of any penalties or fines imposed by flag and coastal states for breach of the regulations must be clarified.
There will undoubtedly be a period of operational disruption and freight/hire rate volatility in the early part of 2020, as the market gets to grips with the new provisions. We recommend that owners set an ‘internal’ soft deadline in advance of 1/1/2020 for the amendment of their charters and the implementation of the protocols and procedures necessary to comply with the new cap. This pro-active approach should help iron out any teething problems and place owners in the prime position to take those opportunities that will inevitably arise in times of uncertainty, disruption and market volatility.
We are currently working with clients on drafting bespoke provisions to suit their particular needs. If you would like any assistance in this regard, please do not hesitate to contact Rory Macfarlane or Geraldine Koon at Ince & Co in London, or your usual contact.
Source: Ince & Co.
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Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
Tuesday, 19 February 19
FAST DEPLETING COAL RESERVES COULD PUSH UP ENERGY PRICES, CAUTIONS EXPERT - THE HINDU BUSINESS LINE
The fast depletion of coal, a strategic resource and India’s fuel of choice currently, has huge implications for energy costs, according to K ...
Monday, 18 February 19
INDIA'S COAL IMPORT FALLS TO 17.25 MT IN JANUARY - PTI
Coal imports saw a decline in January FY 2019 to 17.25 MT from 19.59 MT in the same month of the previous fiscal, according to a report by mjunctio ...
Monday, 18 February 19
THE ROLE OF COAL IN INDIA'S ENERGY AMBITIONS - WCA
India is the world’s second most populous country and figures among the world’s most rapidly growing economies.
The Sout ...
Saturday, 16 February 19
COALTRANS CHINA 2019, CHINA'S LARGEST COAL INDUSTRY GATHERING
Press Release: Coaltrans China 2019 | With the import ban likely to be lifted, it’s time for you to meet your potentia ...
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- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
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