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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, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
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- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- The University of Queensland
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
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