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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Parliament of New Zealand
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
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