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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, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
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