Credit bidding is the process whereby a lender, with a secured charge over a borrower’s asset, bids on that asset using the very debt that is owed by the borrower to the lender. The circumstances are usually foreclosure of a lending position against a …
To bid or not to bid: Credit bidding in vessel sales pendente lite Read More »
Snowstorms and power outages have disrupted barge loadings and pushed up prices for prompt bunker deliveries in Houston and other US Gulf Coast ports. Blackouts in Houston and Galveston have disrupted bunkering in the area. Barges have been prevented f…
ENGINE: Americas Bunker Fuel Availability Outlook Read More »
The development of a new BIMCO Force Majeure Clause is progressing and continued last week as the subcommittee met to draft a bolt-on provision relating to situations when cargo has been loaded onto the ship and a party declares force majeure. The star…
Who is responsible for the cargo when force majeure is declared? Read More »
Bunker fuels are more readily available in Singapore, Zhoushan and Busan this week. Lead times for stems in Singapore have come down, as the pressure bunker delivery schedules has eased after the Lunar New Year holiday. Singapore’s bunker demand has fu…
ENGINE: East of Suez Bunker Fuel Availability Outlook Read More »
In February 2020, BP announced that it aims to be “net zero across its operations on an absolute basis by 2050 or sooner”. In April 2020, Shell announced “we aim to be a net-zero emissions energy business by 2050 or sooner”. These ambitions relate to t…
Scope 3 emissions: how the freight industry will transition to net zero Read More »