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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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- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- White Energy Company Limited
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
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