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Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013) clauses has begun, and the subcommittee has just had its third meeting.
BIMCO has established a subcommittee to review the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013). Generally, charter parties contain war clauses which are also known as “War Risk Clauses” and from time to time also the war cancellation clause is included. It is important that these clauses reflect the nature of modern conflicts, and the subcommittee has started discussing this topic and whether amendments are needed to update the clauses.
At its first meeting, the subcommittee discussed the scope and objectives of the project. The general experience is that the clauses are applied unamended and that they work well since the last revision of the clause. During the last revision of CONWARTIME 2013 and VOYWAR 2013, changes in case law in particular the “Triton Lark”, the development in trading practices and the experience on demands for specialist cover brought a need to adjust the definitions of the clause. Now, about 10 years later since the last revision, and as the geopolitical landscape does not stay status quo, the subcommittee will consider whether a revision of the current wording would be relevant and beneficial to the industry. Furthermore, the subcommittee will focus on ensuring that the clauses remain commercially workable and fit today’s needs of the industry. At the following meeting, the subcommittee discussed the war risk insurance aspects, both in terms of cover and the responsible party to pay the premium.
Members of the subcommittee are Natalya Skjelmose (Norden), Anders G. Hovelsrud (DNK), Dirk Janssen (Nordisk), Dorte Nielsen (Centurion Bank), Henning Babiel (ADM), Neil Roberts (Joint War Committee), Nicola Cox (West), Richard Neylon (HFW), Richard Young (Beazley).
Source: BIMCO
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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Showing 1 to 5 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
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