We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
|
|
|
Showing 1491 to 1495 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Australian Coal Association
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
|
| |
| |
|
