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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, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
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- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Indika Energy - Indonesia
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