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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
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