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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, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
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