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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, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
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- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
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