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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, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
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