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.
|
|
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
|
|
|
Showing 1536 to 1540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- PTC India Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
|
| |
| |
|
