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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
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