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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
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