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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
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