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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
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