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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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Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
Tuesday, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
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- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Planning Commission, India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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