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.
|
|
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
|
|
|
Showing 1326 to 1330 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Australian Coal Association
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
|
| |
| |
|
