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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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Showing 76 to 80 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
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