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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, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
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