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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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Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
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