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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
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- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- The University of Queensland
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
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