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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
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