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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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Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- MS Steel International - UAE
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Australian Coal Association
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
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