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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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Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
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Showing 306 to 310 news of total 6871 |
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- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- PTC India Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
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