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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- Planning Commission, India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
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