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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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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
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