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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
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Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
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Showing 2746 to 2750 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- MS Steel International - UAE
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
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