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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, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
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Showing 461 to 465 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Planning Commission, India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
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