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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, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
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- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
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