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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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Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
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Showing 1631 to 1635 news of total 6871 |
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- The University of Queensland
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
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