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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Anglo American - United Kingdom
- PTC India Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
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