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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, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
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- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
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