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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, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
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- London Commodity Brokers - England
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
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