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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, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
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