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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, 08 July 21
STRONGEST HALF YEAR FOR SHIPPING MARKETS SINCE 2008 - CLARKSONS
A year on from peak trade disruption, we update our half year report for the shipping industry profiling a strong recovery and some exceptional ind ...
Tuesday, 06 July 21
INDONESIA COAL PRICE REFERENCE RISES TO 112 MONTHS HIGH IN JULY 2021; 121.15% HIGHER COMPARED TO THAT IN JULY 2020 PRICE
COALspot.com: The Indonesia coal price reference for July 2021 fixed at US$ 115.35 per ton FOB vessel.
The Indonesia coal price referenc ...
Tuesday, 06 July 21
INDONESIAN COAL EXPORTS FELL BY 37% YOY IN 1Q21 DUE TO ADVERSE WEATHER CONDITIONS - FITCH RATINGS
Chinese coal imports declined by 25% yoy in 5M21as a result of both restrictions on Australian coal and the high base in 2020. Import volume in Jan ...
Tuesday, 06 July 21
INDONESIAN 4,200 INDEX HAS ALSO INCREASED TO OVER USD50 PER TONNE SINCE MAY THIS YEAR REFLECTING STRONG CHINESE IMPORT DEMAND - FITCH RATINGS
Price Surge Since March
APAC thermal coal has resumed its price surge since March this year. The benchmark Newcastle 6,000kcal/kg grade c ...
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
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- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- PTC India Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
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