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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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Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
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Thursday, 03 January 19
CAPESIZE: A MORE POSITIVE START OF THE NEW YEAR THAN EXPECTED FOR THE BIG SHIPS - FEARNLEYS
Capesize
A more positive start of the new year than expected for the big ships, with average gains of US$ 500/day posted on the first tra ...
Tuesday, 01 January 19
INDONESIA: COAL PRODUCTION EXPECTED TO EXCEED THIS YEAR'S TARGET - JP
Indonesian coal production reached 456 million tons up to Thursday or 94.02 percent of this year’s total target of 485 million tons, accordin ...
Monday, 31 December 18
THE INDONESIAN COAL MARKET Q1 '19 FORECAST: LOOKS DIRECTIONLESS - TRADER
The Indonesian coal market looks directionless, an International coal trader said when we asked him to give his forecast for 1Q' 2019.
...
Monday, 31 December 18
GLOBAL COAL DEMAND GREW BY 1% IN 2017; GLOBAL COAL POWER GENERATION INCREASED BY OVER 250 TWH - IEA
After two years of decline, global coal demand grew by 1% in 2017 to 7585 Mt as stronger global economic growth increased both industrial output an ...
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- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- The University of Queensland
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
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