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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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Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
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- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- London Commodity Brokers - England
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
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