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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, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
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- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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