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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- VISA Power Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
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