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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
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