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