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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
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