DOCSLIB.ORG

Pdf Sales & Purchases of Other Products Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pdf Sales & Purchases of Other Products Pdf i CONTENTS PART ONE ........................................................................................................................................................ 4 In Respect of FOB Deliveries ........................................................................................................................ 4 Section 1 - Delivery ....................................................................................................................................... 4 Section 2 - Measurement and Sampling, Independent Inspection and Certification .................................. 4 Section 3 - Risk and Title .............................................................................................................................. 5 Section 4 - Laydays ...................................................................................................................................... 5 Section 5 - Nomination of Vessels ............................................................................................................... 6 Section 6 - Arrival of Vessel, Loading, Berth ............................................................................................... 8 Section 7 - Laytime, Delays and Demurrage ............................................................................................. 10 PART TWO ............................................................................................................................................... 14 In Respect of CFR, CIF and DAP Deliveries .............................................................................................. 14 Section 8 - Delivery ..................................................................................................................................... 14 Section 9 - Measurement and Sampling, Independent Inspection and Certification ................................ 14 Section 10 - Risk and Title .......................................................................................................................... 17 Section 11 – Laydays, Indicative Arrival Date Range and Arrival Date Range ......................................... 18 Section 12 - Insurance ................................................................................................................................ 18 Section 13 - Charterparty Conditions ......................................................................................................... 20 Section 14 - Nomination of Vessels, etc. ................................................................................................... 21 Section 15 - Arrival of Vessel, Berth, Discharge, etc. ................................................................................ 24 Section 16 - Laytime, Delays and Demurrage ........................................................................................... 26 PART THREE (A) ........................................................................................................................................... 29 In Respect of Barge (FOB, CFR and CIF) Deliveries for North-West Europe ........................................ 29 Section 17 - Applicability ............................................................................................................................ 29 Section 18 - Nominations in Respect of FOB Deliveries ........................................................................... 29 Section 19 - Nominations in Respect of CFR and CIF Deliveries ............................................................. 30 Section 20 - Laytime ................................................................................................................................... 31 Section 21 - Demurrage .............................................................................................................................. 31 Section 22 - Unknown Load or Discharge Location ................................................................................... 32 Section 23 - Security ................................................................................................................................... 33 Section 24 - Part Cargo .............................................................................................................................. 33 PART THREE (B) ........................................................................................................................................... 34 In Respect of Barge (FOB, CFR, CIF, and DAP) Deliveries for U.S. Domestic ...................................... 34 Section 25 - Applicability ............................................................................................................................ 34 Section 26 - Measurement and Sampling, Independent Inspection and Certification ............................... 34 Section 27 - Nominations in Respect of FOB Deliveries ........................................................................... 36 i Section 28 - Nominations in Respect of CFR and CIF Deliveries ............................................................. 37 Section 29 - Nominations in Respect of DAP Deliveries ........................................................................... 38 Section 30 - Laytime ................................................................................................................................... 38 Section 31 - Demurrage .............................................................................................................................. 39 Section 32 - Unknown Load or Discharge Location ................................................................................... 40 Section 33 - Security ................................................................................................................................... 41 Section 34 - Part Cargo .............................................................................................................................. 41 PART FOUR ................................................................................................................................................... 42 In Respect of Ex Tank, Into Tank, In Situ (Stock Transfer) and Free Into Pipeline (“FIP”) Deliveries 42 Section 35 - Delivery ................................................................................................................................... 42 Section 36 - Nominations ............................................................................................................................ 42 Section 37 - Measurement and Sampling; Independent Inspection ......................................................... 42 Section 38 - Risk and Title .......................................................................................................................... 44 PART FIVE ...................................................................................................................................................... 45 In Respect of Deliveries in Bulk to/by Road Tanker/Rail Tank Cars FCA, CPT, CIP, DAP and DDP 45 Section 39 - Nominations ............................................................................................................................ 45 Section 40 - Risk and Title .......................................................................................................................... 45 Section 41 - Acceptance of Road Tanker or Rail Tank Cars ..................................................................... 45 Section 42 - Insurance ................................................................................................................................ 46 Section 43 - Other Terms and Conditions Applicable to Delivery by Rail Tank Car .................................. 46 PART SIX ........................................................................................................................................................ 47 Applicable to each of Parts One, Two, Three, Four and Five .................................................................. 47 Section 44 - Definitions ............................................................................................................................... 47 Section 45 - Quality and Claims in Respect of Quality/Quantity ............................................................... 51 Section 46 - Health, Safety and Environment ............................................................................................ 53 Section 47 - Destination .............................................................................................................................. 54 Section 48 - VAT, GST, Mineral Oil Tax, U.S. Domestic Taxes, and Other Taxes, Duties, etc. ................ 55 Section 49 - Payment .................................................................................................................................. 59 Section 50 - New and Changed Regulations, etc. ..................................................................................... 65 Section 51 - Force Majeure ........................................................................................................................ 65 Section 52 - Limitation of Liabilities ............................................................................................................ 67 Section 53 - Termination or Suspension, etc. ............................................................................................ 68 Section 54
Load more

Recommended publications
  • Review of Maritime Transport 2020 37
    2 The present chapter focuses on key developments related to the supply of maritime transport during this past year. It also assesses the early impact of the COVID-19 pandemic on the supply of maritime transport services and industries and discusses the responses, lessons learned and possible implications of the pandemic in terms of forces shaping supply and the industry’s long-term goal of decarbonization. The pandemic has had a significant impact on the shipping industry. On the one hand, lockdowns and factory closures gradually affected demand for maritime transport, due to reduced cargo volumes (see chapter 1). On the other hand, safety measures applied to contain the spread of the virus, such as lockdowns and travel restrictions, affected the movement of maritime transport workers and procedural changes introduced in ports, and induced operational disruptions in the supply of maritime transport. These prompted changes in shipping operations and requests for government support in the sector. They made the industry reflect on ways to enhance resilience of the sector to future shocks. This chapter reviews world fleet developments such as MARITIME annual fleet growth, changes to the structure and age of the fleet. It considers selected segments of the maritime TRANSPORT supply chain, such as shipbuilding, ship recycling, ship ownership, ship registration and the maritime workforce, SERVICES AND emphasizing the impacts of the pandemic on maritime INFRASTRUCTURE transport and marine manufacturing industries and on the supply of shipping services. SUPPLY It also examines the impact of the pandemic on the container, dry bulk and tanker freight markets; government responses to support shipping; and industry prospects, in particular with regard to accelerated digitalization and the prioritization of environmental sustainability.
    [Show full text]
  • TERMS and CONDITIONS DATED 2010-05-01 Revised December 2014 (§39)
    PREEM AB 1 PREEM AB CHARTERPARTY TERMS AND CONDITIONS DATED 2010-05-01 Revised December 2014 (§39) SECTION 1 1. Basic Provisions 2. Worldscale and Overage 3. Misrepresentation 4. I T F Clause 5. Safe Port/Berth 6. Deviation 7. Agency 8. Expected to Arrive 9. Notice of Readiness 10. Time Bar 11. Statement of Facts 12. Calculation of laytime 13. Weather and seagoing clause 14. Retention 15. Letter of Indemnity and Invocation of Short Form Undertaking 16. Port Authority's Instruction 17. Competent Crew 18. Crew's Duties 19. Bunkers Onboard 20. Charterers Inspection 21. Cleaning 22. Cargo Temperature at Loading/Heating 23. Pumping 24. Closed Loading 25. Insurance 26. Vessel Certification 27. Remaining on Board 28. Pollution Clause 29. P&I Insurance 30. Drug and Alcohol Clause 31. ITOPF Clause 32. Small Claims Arbitration 33. Address Commission 34. Logbooks 35. Vessel Vetting Clause 36. Early Loading Clause 37. ISPS Clause, International Ship & Port Facility Safety Code 38. Charterers Mail 39. Accidents to Vessel and / or Cargo 40. Document of Compliance / ISM Clause, International Safety Management Code 41. Administration Clause PREEM AB 2 SECTION 2 A. Crude Oil Washing B. Inert Gas C. Speed Clause D. Lightering Execution Clause E. Tank Stripping F. Lightering Stability G. Arab Clause H. Early Departure Clause I. Hydrogen Sulphide Clause SECTION 1 1 The clauses hereinafter are, to the extent they are not added to, deleted or otherwise 2 changed by mutual consent, deemed incorporated into the ASBATANKVOY 3 Charterparty part 1 section M or otherwise, as appropriate, deemed incorporated into 4 such other Charterparty form the parties have agreed shall govern the charter.
    [Show full text]
  • The Price Discovery Properties of Clean Tanker Freight Futures - Unbiasedness, Causality and Forecasting
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by NORA - Norwegian Open Research Archives NORWEGIAN SCHOOL OF ECONOMICS AND BUSINESS ADMINISTRATION (NHH) Bergen, spring 2010 Master Profile: Financial Economics Advisors: Professor Siri Pettersen Strandenes and Associate Professor Jonas Andersson The Price Discovery Properties of Clean Tanker Freight Futures - Unbiasedness, Causality and Forecasting Audun Houmb Sjøli This thesis was written as a part of the master program at NHH. Neither the institution, the advisors, nor the sensors are - through the approval of this thesis - responsible for neither the theories and methods used, nor results and conclusions drawn in this work. NORWEGIAN SCHOOL OF ECONOMICS AND BUSINESS ADMINISTRATION (NHH) Abstract The scope of this thesis is to examine the price discovery properties of clean tanker freight futures. This is conducted by testing the unbiasedness hypothesis, the lead-lag relationship between freight futures and spot rates and the forecasting properties of freight futures with regards to the underlying spot rates. The research focuses on the most liquid clean tanker freight futures, which are those written on the routes TC2, TC4 and TC5. The results indicate that unbiasedness depends on the route in question and time to maturity. For a one-month horizon of TC2 and one-, two- and three-month horizons of TC5, the unbiasedness hypothesis is found to hold. Unbiasedness is also indicated for the two- and three-month horizons of TC2, but due to weak evidence no conclusions are drawn. For TC4 the unbiasedness hypothesis is rejected. The results from testing the lead-lag relationship indicate that futures prices lead spot rates for all the routes, but the relationship is found to be bi-directional for TC4.
    [Show full text]
  • Charter Party
    Charter Party By Capt Sarabjit Butalia August 2009 Type of Charter parties CHARTER PARTY Charter Party (Lat. charta partita, a legal paper or instrument, divided, i.e. written in duplicate so that each party retains half), a written, or partly written and partly printed, contract between a shipowner and a merchant, by which a ship is let or hired for the conveyance of goods on a specified voyage, or for a defined period. CHARTER PARTY A vessel might also be chartered to carry passengers on a journey. Also, a written contract between shipowner and charterer whereby a ship is hired; all terms, conditions and exceptions are stated in the contract or incorporated by reference. CHARTER PARTY Charter party is the contract between the owner of a vessel and the charterer for the use of a vessel. The charterer takes over the vessel for either a certain amount of time (a time charter) or for a certain point-to-point voyage (a voyage charter), giving rise to these two main types of charter agreement. There is a subtype of time charter called the demise or bareboat charter. CHARTER PARTY Time charter- In a time charter, the vessel is hired for a specific amount of time. The owner still manages the vessel but the charterer givers orders for the employment of the vessel, and may sub-charter the vessel on a time charter or voyage charter basis. CHARTER PARTY Voyage charter – In a voyage charter, the charterer hires the vessel for a single voyage, and the vessel's owner (or disponent owner) provides the master, crew, bunkers and supplies.
    [Show full text]
  • Delivery Ex Ship)
    Den norske stats oljeselskap a.s CONDITIONS OF SALE APPLICABLE TO PETROLEUM PRODUCTS SALES DES (Delivery Ex Ship) DES/CONDITIONS, SEPTEMBER 1997 PAGE 1 OF 25 O CONTENTS 1. Definitions.......................................................................................................................... 3 2. Delivery.............................................................................................................................. 5 3. Property and Risk............................................................................................................... 5 4. Price, Credit Period and Currency...................................................................................... 5 5. Payment.............................................................................................................................. 5 6. Quality and Quantity.......................................................................................................... 7 7. Charter Party Conditions.................................................................................................... 8 8. Berth and Discharge Port ................................................................................................... 8 9. Alternative Discharge Port(s)............................................................................................. 8 10. Nominations of Shipment............................................................................................... 8 11. Laytime..........................................................................................................................
    [Show full text]
  • Chartering Strategies for Oil Companies Jessica Chia-Chi Wang
    Erasmus University Rotterdam MSc in Maritime Economics and Logistics (MEL) 2010/2011 Chartering Strategies for Oil Companies By Jessica Chia-Chi Wang Copyright MSc Maritime Economics & Logistics Acknowledgements This thesis is to summarize my previous four-year tanker chartering works and one-year master study. Sincere gratitude to those who guided me, supported me, or have been with me during the time. Thanks to my thesis supervisor, Mr. J. P. M. Lafranca, who enthusiastically supported me by bringing this idea into reality and provided much guidance and precious opinions. I would also like to express my appreciation for my colleagues and my friends in the tanker industry who generously shared with me the data and their expertise, and inspired me in many ways, especially Joseph Milon, David J Saginaw, James Gundy, Ann Bee, Stanley Shih, and Jeff Chen. In addition, special thanks to Carlos, my professional thesis editor, and my dear classmates in MEL who made my life in MEL unforgettable. Last but definitely not least, thanks for the divine love and the abundant grace from the Lord Jesus Christ, the support from my dear husband Joseph, the genuine love and care from my sister in the Lord Weiyu and all the dear brothers and sisters in Church in Delft. I would not have finished this work without you. Thank you all. ii Abstract This paper discusses the general chartering strategy trends for oil companies and provides a systematic approach for strategic tanker chartering decisions focusing mainly on the shipping contract mix problem. To analyze trends in chartering strategies, this thesis categorizes oil companies from an oil supply chain perspective into four main categories; integrated oil companies, oil producers, oil consumers, and oil traders in order to identify different levels of involvement in crude oil transport and composition of shipping contracts.
    [Show full text]
  • Euronav NV and the Entities Included in the Consolidation
    2020 Annual report Shareholder letter 01 Quick facts 02 Highlights 2020 04 Special report A sustainable pathway to decarbonisation 08 Directors’ report Vision and Mission 22 Company profile 23 Highlights 2020 24 Corporate Governance Statement 34 The Euronav Group 76 Activity report Products and services 80 In-House Ship Management 82 Fleet of the Euronav group as of 31 December 2020 85 Human resources 90 Sustainability report Letter from the CEO 97 Sustainability Highlights 2020 99 Our approach to sustainability 101 Stakeholder engagement 106 Active engagement with financial institutions on sustainability 107 Environment 108 Social and human capital 116 Corporate governance 122 Initiatives and contributions to society 124 Glossary 128 Shareholders diary Financial calendar 2021 Thursday 6 May 2021 Announcement of first quarter results 2021 Thursday 20 May 2021 Annual General Meeting of Shareholders Thursday 05 August 2021 Announcement of second quarter results 2021 Tuesday 10 August 2021 Half year report 2021 available on website Thursday 04 November 2021 Announcement of third quarter results 2021 Thursday 03 February 2022 Announcement of fourth quarter results 2021 Representation by the persons responsible for the financial statements and for the management report Mr Carl Steen, Chairman of the Supervisory Board, Mr Hugo De Stoop, CEO and Mrs Lieve Logghe, CFO, hereby certify that, to the best of their knowledge, (a) the consolidated financial statements as of and for the year ended 31 December 2020, which have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and results of Euronav NV and the entities included in the consolidation.
    [Show full text]
  • Review of Maritime Transport, 2004
    UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT Geneva REVIEW OF MARITIME TRANSPORT, 2004 Report by the UNCTAD secretariat UNITED NATIONS New York and Geneva, 2004 ii Review of Maritime Transport, 2004 NOTE The Review of Maritime Transport is a recurrent publication prepared by the UNCTAD secretariat since 1968 with the aim of fostering the transparency of maritime markets and analysing relevant developments. Any factual or editorial corrections that may prove necessary, based on comments made by Governments, will be reflected in a corrigendum to be issued subsequently. * * * Symbols of United Nations documents are composed of capital letters combined with figures. Use of such a symbol indicates a reference to a United Nations document. * * * The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. * * * Material in this publication may be freely quoted or reprinted, but acknowledgement is requested, with reference to the document number (see below). A copy of the publication containing the quotation or reprint should be sent to the UNCTAD secretariat at: Palais des Nations, CH-1211 Geneva 10, Switzerland. UNCTAD/RMT/2004 UNITED NATIONS PUBLICATION Sales No. E.04.II.D.34 ISBN 92-1-112645-2 ISSN 0566-7682 Contents, Introduction and Summary iii CONTENTS
    [Show full text]
  • ANNUAL REPORT 2019 Shareholder Letter 01
    2019 report Annual ANNUAL REPORT 2019 Shareholder letter 01 Quick facts 02 Highlights 2019 04 Special report Future capital access for tanker shipping: new set of rules is emerging 8 Directors’ report Vision and Mission 18 Company profi le 19 Highlights 2019 20 Corporate Governance Statement 32 The Euronav Group 61 Activity report Products and services 67 In-house Ship Management 69 Fleet of the Euronav group as of 31 December 2019 72 Human resources 76 Environment, Social and Corporate Governance ESG at Euronav, it’s in the DNA 80 Glossary 92 Key fi gures Consolidated statement of profit or loss 2011 - 2019 (in thousands of USD) 2019 H 2018 G 2017 2016 2015 2014 2013 2012 2011 Restated A Revenues 932,377 600,024 513,368 684,265 846,507 473,985 304,622 410,701 394,457 EBITDAB 540,668 231,513 273,451 475,005 612,659 202,767 100,096 120,719 128,368 EBIT 202,966 (39,179) 43,579 247,241 402,453 41,814 (36,862) (56,794) (40,155) Net profit 112,230 (110,070) 1,383 204,049 350,301 (45,797) (89,683) (118,596) (95,986) TCE C YEAR AVERAGE 2019 2018 2017 2016 2015 2014 2013 2012 2011 VLCC 35,874 23,005 27,773 41,863 55,055 27,625 18,300 19,200 18,100 Suezmax 37,747 30,481 22,131 26,269 35,790 25,930 22,000 24,100 27,100 Shareholders’ diary 2020 Spot Suezmax 24,119 15,784 18,002 27,498 41,686 23,382 16,600 16,300 15,400 THURSDAY 7 MAY 2020 Announcement of fi rst quarter results 2020 IN USD PER SHARE 2019 2018 2017 2016 2015 2014 2013 2012 2011 Number of shares D 216,029,171 191,994,398 158,166,534 158,262,268 155,872,171 116,539,017 50,230,437 50,000,000
    [Show full text]
  • Argus Freight Methodology Is Available On
    IDE U ARGUS FREIGHT Contents: Methodology overview 2 Introduction 5 Oil and refined products 6 Units of measurement 6 Clean and dirty vessels 6 Vessel type 6 LPG 6 VLGC calculated rates 6 MGC calculated rates 7 Agriculture 8 Dry bulk 8 Americas coal exports 8 Petroleum coke 8 Time-charter equivalent 8 Vessel assumptions 9 Dry bulk TCE assessments 9 Port assumptions 9 Fertilizer freight rates 10 Freight futures 10 OGY AND SPECIFICATIONS G AND SPECIFICATIONS OGY Panama Canal wait times 10 L Dirty freight rate specifications 11 Clean freight rate specifications 14 Petroleum coke freight rate specifications 18 Dry bulk freight rate specifications 18 Americas coal export freight rate specifications 19 Agriculture freight rate specifications 19 LAST UPDATED: AUGUST 2021 METHODO The most up-to-date Argus Freight methodology is available on www.argusmedia.com www.argusmedia.com 19 January 2005 METHODOLOGY AND SPECIFICatIONS GUIDE August 2021 Methodology overview • Transactions • Bids and offers Methodology rationale • Other market information, to include spread values between Argus strives to construct methodologies that reflect the way the grades, locations, timings, and many other data. market trades. Argus aims to produce price assessments which are reliable and representative indicators of commodity market values In many markets, the relevant methodology will assign a relatively and are free from distortion. As a result, the specific currencies, higher importance to transactions over bids and offers, and a volume units, locations and other
    [Show full text]
  • Download PDF (446.47
    BPVOY4 VOYAGE CHARTER PARTY WORKING COPY BP SHIPPING LIMITED 1st Edition - June 1998 Registered in England and Wales: No. 140132 Registered Office:- Breakspear Park, Breakspear Way, Hemel Hempstead, Herts, HP2 4UL. INDEX TO CLAUSES - BPVOY4 Clause Page 1. Condition of Vessel 5 2. Chartering Questionnaire 5 3. Loading/Compliance with Charterers’ Voyage Orders 5 4. Estimated Times of Arrival 6 5. Loading and Discharge Port/Shifting 7 6. Notice of Readiness ("NOR") 7 7. Laytime/Demurrage 8 8. Cargo Transfers 9 9. Documentation 11 10. Drugs & Alcohol Policy 11 11. Cleaning of Vessel's Tanks, Pumps and Pipelines 11 12. Inert Gas System ("IGS") 12 13. Closed Cargo Operations 12 14. Oily Residues/Clean Ballast 12 15. Agency 13 16. Cancellation 13 17. Half Laytime/Half Demurrage/Force Majeure 14 18. Suspension of Laytime/Demurrage 14 19. Loading and Discharge of Cargo and Crude Oil Washing and Stripping 15 20. Claims Time Bar 18 21. Slack Tanks/Even Keel 18 22. Revised Charterers’ Voyage Orders for Loading or Discharge Ports 19 23. Vessel/Cargo Inspections/Bunker Surveys 19 24. Maintenance of Cargo Temperature 20 25. Cargo Heating 20 26. Liberty 21 27. Traffic Separation and Routeing 21 28. Ice on Voyage and Ice at Loading and Discharge Ports 21 29. Quarantine 22 30. Bills of Lading and Indemnities 22 31. Freight Rate 23 32. Address Commission 24 33. Cargo Retention 24 34. Dues and Other Charges 25 35. Cargo Insurance 25 36. Coding of Cargo Documentation - US Customs Regulations 25 37. USCG Certificate of Financial Responsibility/USCG Regulations 26 38.
    [Show full text]
  • Terms and Expressions in Shipping and Offshore
    Terms and Expressions in Shipping and Offshore General Shipping Terms Types of Ships Vessel Sizes Geographical Abbreviations Capacity Measurements Offshore Terms Offshore Vessels Types of Affreightment Worldscale Abbreviations General Shipping Terms Arbitration - a method of settling disputes by one or more arbitrators. Quicker and cheaper than taking a case to court. Bareboat - the hiring or leasing of a vessel from one company to another (the charterer), which provides crew, bunkers, stores, etc. and pays all operating costs. Barrel - measure for oil. There are 7.1 barrels of oil in one ton. Each barrel is approximately 159 litres. BBB - Before Breaking Bulk - freight to be paid, i.e. the money deposited into the shipping company's account, prior to discharging. Benchmarking - to compare someone or something with the best that can be achieved within a specified field. Bill of Lading (B/L) - negotiable document issued by shipowner to shipper of goods. Contains terms and conditions of the contract. Box - everyday term for container. Break-Bulk Cargo - goods shipped loose in the vessel's hold and not in container. Bulkcargo - homogeneous dry cargo (not packaged), e.g. coal, grain, iron ore, etc. Bunkers - ship's fuel. To take on fuel, is called bunkering. Cabotage - coastal trade, i.e. the movement of goods by ship between ports on the same coast or between ports within the same country. CAP - Condition Assessment Programme - inspection of a vessel to determine its technical condition. Capital intensive tonnage - vessel demanding relatively large capital investments, e.g. cruiseships, gas- and chemical tankers, etc. Charterer - cargo owner or another person/company who hires a ship.
    [Show full text]