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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
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