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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Planning Commission, India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
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