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Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
 BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard Term Sheet and two marine services agreements – one for use in dismantling of offshore oil and gas structures, and the other for spill response equipment and personnel.
Novation Agreements
BIMCO has just published a set of standard novation agreements. They provide a legal framework to change one of the original parties to a contract. Two of the agreements are for a change of charterer/owner. The third covers a change of buyer under a shipbuilding contract.
SUPPLYTIME
The widely used SUPPLYTIME 2005 time charter for offshore service vessels is being updated. A team of industry experts representing owners and charterers has been working on a new edition for the past 12 months. The main focus has been on modernisation and adding greater clarity to the contract, rather than a radical overhaul of its terms and conditions. To reflect changes in commercial practice and legal developments over the past 10 years, the updated edition will feature a number of new clauses that are commonly added as riders.
The drafting team, headed by Ian Perrott, former CEO of Hamburg based ER Offshore, has just completed a first full review of the contract. Later this year, draft copies of the updated SUPPLYTIME will be circulated to a selected industry “sounding board” for feedback and input. The target completion date for the project is May 2017.
BARECON
When it comes to bareboat chartering a ship, the natural choice of contract is BIMCO’s BARECON – which is very much the industry standard agreement for this activity. BARECON was last updated in 2001.
Work on a new edition began earlier this year. The focus so far has been on delivery and redelivery aspects – particularly the condition of the ship and survey and inspection rights.
The drafting team, headed by Captain Ajay Hazari, Director at Anglo Eastern Ship Management in Hong Kong, will also look in detail at the insurance provisions of BARECON.
A first draft of the updated bareboat charter will be shown to BIMCO’s Documentary Committee in November.
WORLDFOOD
The World Food Programme is a UN humanitarian organization with a mandate to fight hunger globally. It buys food and charters ships to send aid to where it is needed. Transport by sea is the main method used for food aid cargoes. The WORLDFOOD charter party, originally developed together with BIMCO in 1986, is used exclusively by the World Food Programme.
The charter party was last updated in 1999. The World Food Programme recently asked BIMCO to help update and modernise the agreement. The Agency requires shipowners to accept a high degree of flexibility to change ports at short notice because of the often volatile areas in which they operate. In this respect the WORLDFOOD charter differs from other standard voyage charters.
The main focus of the update will be to add new editions of some of the older standard clauses found in the charter party – such as War Risks and Law and Arbitration. New clauses will cover issues such as piracy and compliance with the MLC Convention.
The drafting team, headed by Jean-Pierre Laffaye of Louis Dreyfus Armateurs will continue working with World Food Programme representatives to update the charter party. The next meeting will be held in Paris in October.
Standard Term Sheet
BIMCO’s draft Standard Term Sheet has just been positively reviewed by an industry “sounding board” composed of representatives from shipowners, banks, lawyers and other people interested in the term sheet project.
The drafting team will look at all the comments from the “sounding board” at their next meeting at the end of. The outcome of these consultations, together with a revised draft, will be presented to the Documentary Committee at its next meeting in November.
Source: BIMCO
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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- PTC India Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
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