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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
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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 ...
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- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
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