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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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Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
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