We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
 Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of the New York Produce Exchange Time Charter (NYPE) since 1993, following three years of intensive discussions between BIMCO, copyright holder the Association of Ship Brokers and Agents (ASBA) and the Singapore Maritime Foundation (SMF).
BIMCO, ASBA and the SMF have consulted with the industry globally during the development of the new edition of NYPE to gather a clear picture of commonly made amendments and rider clauses added by practitioners. Careful account has been taken of the interests of owners and charterers together to create a more balanced agreement than in previous versions of the charter.
Key features of NYPE 2015 include:
- A choice of trip or period charter.
- Optional Not Always Afloat But Safely Aground (NAABSA) provision.
- Choice of cargo readiness at delivery port or first load port.
- Obligation on owners/charterers to restrict further employment immediately prior to delivery/re-delivery that might delay the ship.
- Owners to provide and maintain Certificates of Financial Responsibility for oil pollution as required at the start of the charter period.
- Detailed bunker provisions for period and trip charter options covering quantities and prices; bunkering operations and sampling; quality and liability; fuel testing; and low sulphur fuels.
- Updated and clarified hire payment provisions relating to grace period, suspension and withdrawal consistent with recent legal decisions.
- Detailed and clarified speed and performance clause.
- A broad choice of law and arbitration options – New York/US law; London/English law; Singapore/Singapore or English law; or a free choice agreed by the parties.
Plus, additional clauses dealing with a range of current issues:
- hold cleaning/residue disposal in accordance with MARPOL;
- International Maritime Solid Bulk Cargoes (IMSBC) Code;
- hull fouling;
- electronic bills of lading;
- slow steaming;
- piracy;
- ISM/ISPS Codes;
- ballast water exchange regulations
Søren Larsen, BIMCO’s Deputy Secretary General, said:
“We are delighted that our close cooperation with ASBA and SMF has resulted in the completion of this major project to produce a much improved NYPE that will be of great benefit to the industry.”
Inga Froysa, Chairperson of the BIMCO NYPE revision sub-committee, added:
“Users of the current NYPE form will certainly still recognise and be familiar with the core elements of the time charter party, but they can also expect to see some significant changes and improvements.
“Notably, the contract incorporates many of the rider clauses that are routinely added to the existing NYPE – but we have made sure that any new clauses incorporated into the new NYPE are relevant, balanced and consistent with the other provisions.
“Overall, our aim was to create a modern NYPE with global appeal – and I believe that this has been achieved.”
Nigel Hawkins, Chairman of the ASBA drafting committee, said
“The 1993 NYPE Charter Party was ripe for updating. ASBA is therefore pleased that with our friends at BIMCO and the Singapore Maritime Foundation we have agreed the wording of a NYPE fit for the present day. ASBA hope that the industry will find this new NYPE a clear and logical document, and, that the industry will note some familiar language contained in past NYPE documents.”
Michael Chia, Chairman of the Singapore Maritime Foundation, said
“The revised NYPE is the first international shipping form that is a collective effort spanning the globe involving ASBA, BIMCO and the SMF. With the extensive global industry stakeholder consultation we believe that the end product is a contract that better meets user needs and will see quick acceptance and adoption.”
Source: BIMCO | Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
|
|
|
Showing 2741 to 2745 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- PTC India Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
|
| |
| |
|
