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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
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