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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, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
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