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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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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
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- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Posco Energy - South Korea
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
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