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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, 15 July 21
U.S. FOSSIL FUEL CONSUMPTION FELL BY 9% IN 2020, THE LOWEST LEVEL IN NEARLY 30 YEARS - EIA
U.S. fossil fuel consumption fell by 9% in 2020, the lowest level in nearly 30 years
In 2020, total consumption of fossil fuels in t ...
Thursday, 15 July 21
IN 2020, U.S. COAL PRODUCTION FELL TO ITS LOWEST LEVEL SINCE 1965 - EIA
U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019 and the lowest level of coal pro ...
Wednesday, 14 July 21
MARKET INSIGHT - INTERMODAL
In its latest Global Economic Prospects report, the world bank recorded the strongest post-recession global growth in 80 years, but emerging and de ...
Tuesday, 13 July 21
JAPAN STILL SEEKING TO EXPLOIT COAL POWER LOOPHOLES - IEEFA
JBIC wants to continue burdening developing nations with its expensive coal-fired power technology
Japan is continuing to push its expensive c ...
Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
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- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
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