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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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Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
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- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Posco Energy - South Korea
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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