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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Economic Council, Georgia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- ICICI Bank Limited - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
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