We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
 KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a time charterers’ bankruptcy which is then later compounded by the arrest of their vessel by suppliers because the charterers have failed to pay for bunkers. A bunker supplier’s ability to arrest a vessel stems from a right of lien or retention over the bunkers that can be enforced in some, but not all jurisdictions, even though the owners are not a party to the bunker supply contract. The Bunker Non-Lien Clause is an attempt to introduce a step-change into this process by requiring time charterers to put their bunker suppliers on notice, prior to agreeing any bunker supply, that the bunkers will be bought solely on the charterers’ account.
According to Grant Hunter, Chief Officer of Legal and Contractual Affairs at BIMCO, “It is quite common in the industry for Masters to stamp bunker deliver notes with a statement that the bunkers have been purchased by the charterers and that there is no lien against the vessel. Unfortunately, once the delivery of fuel has taken place, this sort of notice is generally ineffective. The bunker suppliers need to be placed on notice before-hand and this is the practice that the Bunker Non-Lien Clause introduces. The Clause acts as a useful safety-net for owners when concluding a time charter in that solid charterers should have no problem agreeing to such a clause because they will of course pay for the bunkers they order. However, if the financial standing of a charter is in doubt, then they may be more reluctant to accept the responsibilities and liabilities imposed by the clause and this should create a warning flag to owners. Ultimately, if a charterer fails to comply with this clause, a Master has the right to refuse to take delivery of the bunkers – so it is a provision with some teeth”.
The Bunker Non-Lien Clause for Time Charter Parties is now available to download from the clauses section of the BIMCO website and to users of IDEA2. A Special Circular has been issued to members which contains a copy of the clause and explanatory notes setting out the background to the clause.
Source: BIMCO / Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
|
|
|
Showing 3341 to 3345 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
|
| |
| |
|
