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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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- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
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