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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, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- The University of Queensland
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
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