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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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Showing 111 to 115 news of total 6871 |
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- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Planning Commission, India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- MS Steel International - UAE
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Independent Power Producers Association of India
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