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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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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
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