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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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Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
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Showing 1646 to 1650 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
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