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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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Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
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Showing 1521 to 1525 news of total 6871 |
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- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Australian Coal Association
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
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