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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, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
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