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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, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- The University of Queensland
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