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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
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- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
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