We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
 On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of Norway. A month later a second attack took place, involving 2 tankers passing near the straits of Hormuz. The above incidents were followed by the detention of an Iranian VLCC in Gibraltar by the British Royal Marines, the “Grace 1”, which was carrying crude oil to be discharged in Banyas, Syria. It should be noted that the discharging of crude oil cargo in Syria is a breach of EU Sanctions. Following this, British ships were threatened when passing the Straits of Hormuz /Gulf of Oman, thus resulting in many tankers which were supposed to load inside Arabian/Persian Gulf, not proceeding with loading/discharging ops. In other instances, British naval ships have been escorting ships, as happened with BP's ship the MT British Heritage & the MT Pacific Voyager. To date the situation in the area remains volatile, while Iran’s official position is that there is no involvement from their side in any of the attacks whatsoever. Meanwhile the market remains under pressure without any signs of significant improvement.
Throughout the above-mentioned period the Joint War Committee listed the Persian Gulf and Gulf of Oman as high-risk areas, and concurrently war risk premiums for ships trading in the area have rocketed. The present situation should have Owners with ships trading in the area, double checking their contractual rights and protective clauses in their time charter parties.
During the negotiations of fixtures, Owners/Charterers negotiate and mutually agree the trading areas, though if the specific area has not been excluded then it’s something that needs to be renegotiated/reviewed on a case by case basis. War Risk clauses depending on how they are drafted, may offer protection to owners, by giving the option of terminating the TC/P in the event of a war risk i.e. Shelltime 4, 1984, or enabling the master to refuse charterers orders and timely request new voyage orders.
Another important point to stress is the “Safe/Unsafe Port” situation. If the TC/P lacks a clause targeting directly to the situation of safe/unsafe port or berth, then it’s solely down to Owners/Masters’ discretion. Below there is a good example of how this situation can be complicated, and therefore needs to be assessed on a case by case basis according to the UK Defense club.
“The Saga Cob [1992] 2 Lloyd’s Rep. 545, there had been an attack on a ship at an Eritrean port within the previous three months and there had also been other attacks, yet the port was deemed not unsafe and the charterers were not in breach of the safe port warranty by ordering the ship there. By contrast, in The Chemical Venture [1993] 1 Lloyd’s Rep. 508, there had been three attacks on ships in the previous eleven days at a single port. The court held that the port was unsafe and that it was negligent for charterers to send a ship there.”
To put it briefly, the present situation is not straightforward, before Owners/Charterers order a ship to enter a high war risk area/port/berth they have to timely asses their already agreed contractual agreement, and discuss with their clubs and legal associates before taking any decisions, on how to treat the situation. A cautious and patient approach could prevent claims/disputes with the contractual parties of the TC/P in the near future.
By Dimitris Kourtesis
Tanker Chartering Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
|
|
|
Showing 1281 to 1285 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
|
| |
| |
|
