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.
|
|
Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
|
|
|
Showing 1341 to 1345 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
|
| |
| |
|
