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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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Showing 111 to 115 news of total 6871 |
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- Ministry of Mines - Canada
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
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