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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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Showing 106 to 110 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- The University of Queensland
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Parliament of New Zealand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
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