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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
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