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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
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