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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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Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
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