AFR Articles, page-49

Cant see this posted, might be on another thread...

Andrew Hodge (Macquarie, Analyst): Just on that, I mean we've seen people moving operating leases, so things which would currently be in Opex. I was trying to work out what you guys would have under that at the moment. Would that be on the shipping side or would there be anything else that would be under a lease?
Peter Coleman: The majority will be in our ships, so that's the LNG carriers, is where the majority of that is. Equally though, as we start to look at things like Senegal and so forth, when you're looking at long-term FPSO leases, that's also something that could come on as well.  So, they're things that we're going to have to look at, the industry is going to have to look at, because the AIPN standard JOA at the moment - joint operating agreements - basically will push all of these liabilities onto the balance sheet of the operator. So, some of those joint ventures are going to have to look at those structures, because it's simply not fair for operators to take on all of those liabilities, simply because they happen to operate. So, the industry is got some changes it's going to have to make as well.

So PC saying that system is against them as well, he is basically agreeing that they no choice in accepting costs upfront from ?... FAR has right to push the costs onto the operator (!?).

PC needs to make a deal and move on.