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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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- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
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