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.
|
|
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
|
|
|
Showing 2776 to 2780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- The University of Queensland
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
|
| |
| |
|
