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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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Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
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- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- VISA Power Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
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