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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, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Central Electricity Authority - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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