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Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
 Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use of electronic documentation, particularly in the dry cargo sector, has resulted in a growing user demand from owners and charterers.
In response to this demand, BIMCO brought together a group of charterers and owners to develop a new clause for charter parties that specifically addresses the use of electronic bills of lading (paperless trading) systems.
Today there are two platforms at the forefront of developments in electronic bill of lading systems - essDOCS and Bolero – both of which have been approved by the International Group of P&I Clubs (“the International Group”) as well as by P&I Clubs outside the group.
The use of electronic bills of lading is said to offer benefits both to charterers and owners in streamlining the documentation process and reducing the risk of fraud. The purpose of BIMCO’s new Electronic Bills of Lading Clause is to provide a contractual agreement to permit the use by charterers of the essDOCS and Bolero systems for bills of lading, waybills and delivery orders. The clause effectively confers on electronic bills of lading the same status as paper bills of lading under the terms of the charter party.
The full wording of the Electronic Bills of Lading Clause is as follows:
BIMCO Electronic Bills of Lading Clause
(a) At the Charterers’ option, bills of lading, waybills and delivery orders referred to in this Charter Party shall be issued, signed and transmitted in electronic form with the same
effect as their paper equivalent.
(b) For the purpose of Sub-clause (a) the Owners shall subscribe to and use Electronic (Paperless) Trading Systems as directed by the Charterers, provided such systems are
approved by the International Group of P&I Clubs. Any fees incurred in subscribing to or for using such systems shall be for the Charterers’ account.
(c) The Charterers agree to hold the Owners harmless in respect of any additional liability arising from the use of the systems referred to in Sub-clause (b), to the extent that such
liability does not arise from Owners’ negligence.
A BIMCO Special Circular containing the full wording of the Electronic Bills of Lading Clause with an accompanying explanatory note can be downloaded at BIMCO’s website.
The Position of the P&I Clubs within the International Group with regard to paperless trading already from 1998, the Association together with other P&I Clubs in the International Group has reviewed progress on electronic trading systems. Please find Circulars from 11 December 1998 and 5 October 1999 (and subsequent circulars) on our website.
Until February 2010, the Rules of all of the Clubs comprising the International Group specifically excluded liabilities in respect of the carriage of cargo under all electronic trading systems to the extent that the liabilities under such systems would not have arisen under a ‘normal’ paper system, using transferable paper documentation.
The International Group, after reviewing a number of electronic trading systems, agreed in 2010 that liabilities arising in respect of the carriage of cargo under such systems would be covered from 20 February 2010 provided that the system had first been approved by the International Group. The Circular can be found on Skuld’s website.
Approved Systems
The two systems currently approved by the International Group are the ones administered by - essDOCS version called DSUA 2013.1 (into effect as of 18 March) and it enables electronic trading both in respect of bills of lading and waybills. This version supersedes the essDOCS previous electronic trading system version DSUA 2009.3, which remains approved for the purposes of Club cover (cf. the 2013 Circulariv) and - Bolero International Ltd. (the Bolero system – Rulebook/Operating Procedures, September 1999).
Cover Position
Members should be aware that traditional exclusions of cover under Club Rules relating to the
carriage of cargo, will of course continue to apply in respect of essDOCS and Bolero in the same way as for paper systems, e.g. discharge at a port or place other than the port or place provided for in the contract of carriage, the issue/creation of an ante- or post-dated electronic document/record, delivery of cargo without the production of the negotiable electronic document/record.
Non-covered Risks
The 2010 and 2013 Circulars also clarify that using an electronic bill of lading may expose members to liabilities which are not of a traditional P&I nature.
This is a reference to the types of liabilities members face when using any electronic system or electronic interface in their office or on their ships, for example the risk of viruses, “hacking”, or the accidental release or theft of information.
Further liabilities may include, for example, those which arise under the contractual arrangements, which members have to make directly with the system operator (Bolero or essDOCS or other, non-approved systems), such as obligations to maintain computer links, or the introduction of a virus within the operator’s or a user’s system.
The user agreements also contain undertakings of confidentiality and could give rise to liabilities, if broken. All of these risks are non-marine risks, and may be covered by members’ own business insurances. These are not in the nature of P&I risks. In insurance terms, they may be described as “cyber-risks” or business risks.
Please find further helpful information about paperless trading in the International Group’s FAQs dated 6 August 2013. In addition, BIMCO has compiled a list of FAQs for its members that answer many of the questions about the use of electronic bills of lading.
Feedback requested
Finally, the Association encourages its members who are using either of the two approved electronic trading systems, to report to us that they are doing so and of any benefits or difficulties which they encounter, legal or practical, in the operation of either system. This information would be helpful to the International Group, in monitoring the use and development of the two systems.
Practical Advice on how paperless trading works
We recommend that members consult the websites from those organisations providing the two systems that are approved by the International Group to familiarise themselves with the systems and how paperless trading works.
Source: Skuld / Hellenic Shipping
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Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- ASAPP Information Group - India
- Australian Coal Association
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
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