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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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Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
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- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
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