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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Australian Coal Association
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Planning Commission, India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bhatia International Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
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