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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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Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
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- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
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