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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Minerals Council of Australia
- Planning Commission, India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- The University of Queensland
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
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