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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, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
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- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- PTC India Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
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