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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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Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
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