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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, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
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