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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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Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
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- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
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