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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, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
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- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
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