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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, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
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