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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, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
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- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
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