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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, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
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- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- The University of Queensland
- White Energy Company Limited
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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