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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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Showing 46 to 50 news of total 6871 |
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- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Planning Commission, India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
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