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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- The University of Queensland
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
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