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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, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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