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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, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- The University of Queensland
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
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