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.
|
|
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
Friday, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
|
|
|
Showing 1651 to 1655 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- PTC India Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
|
| |
| |
|
