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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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Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
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- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
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