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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Australian Coal Association
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
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