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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
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