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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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Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
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- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- The University of Queensland
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
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