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, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
Tuesday, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
|
|
|
Showing 1656 to 1660 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- PTC India Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
