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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
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