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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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Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
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- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Australian Coal Association
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
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