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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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Showing 106 to 110 news of total 6871 |
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- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
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