Tribune Online
  • Home
  • #NigeriaElections2023
  • News
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions
No Result
View All Result
  • Home
  • #NigeriaElections2023
  • News
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions
No Result
View All Result
Tribune Online
No Result
View All Result

Hope rises for Nigerian cargoes as BIMCO revises war risk clauses

by Our Reporter
December 15, 2022
in Business
Reading Time: 2 mins read
A A
abysmal joint vessel inspection

The Baltic and International Maritime Council (BIMCO), the world’s largest commercial shipping trade organisation headquartered in Copenhagen has set up a subcommittee to review its War Cancellation Clause 2004, War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and it’s War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013).

According to reports monitored on BIMCO website recently, the subcommittee has just had its third meeting.

“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.

Related Posts

Five things to know about Chef who wanted to break Hilda Baci’s unofficial record

Nigeria’s stability greater than your pockets, Shettima tells lawmakers

95% of Nigerian male celebrities, including myself, ‘do both men and women’ — Actor Uche Maduagwu claims

“At its first meeting, the subcommittee discussed the scope and objectives of the project. The general experience is that the clauses are appliedunamended 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),” the BIMCO statement read.



ShareTweetSendShareShare
Previous Post

Lekki Port appoints Liu Jialin as Director

Next Post

Kudirat’s murder: Abiola’s family takes Buhari to ECOWAS court, demands $10m compensation

Most Read

  • [PHOTOS] Hilda Baci: Lady begins 120 hours cook-a-thon to break Guinness Records
    [PHOTOS] Hilda Baci: Lady begins 120 hours cook-a-thon to break Guinness Records
  • Real Reason Tinubu suspended Emefiele — FG
    Real Reason Tinubu suspended Emefiele — FG
  • 'You call me your daughter yet slept with me every night', Bobrisky's ex-PA reveals
    'You call me your daughter yet slept with me every night', Bobrisky's ex-PA reveals
  • DSS arrests suspended CBN Governor Emefiele
    DSS arrests suspended CBN Governor Emefiele
  • Tinubu signs first bill into law
    Tinubu signs first bill into law
  • 'A disaster he was', Shehu sani reacts to Emefiele's suspension
    'A disaster he was', Shehu sani reacts to Emefiele's suspension
  • Portable welcomes fifth child with Nollywood actress
    Portable welcomes fifth child with Nollywood actress
  • Veteran Yoruba actress, Iya Gbonkan, receives car from fan
    Veteran Yoruba actress, Iya Gbonkan, receives car from fan
  • How Tinubu escaped 'poisonous knife', Shehu Sani opens up
    How Tinubu escaped 'poisonous knife', Shehu Sani opens up
  • Details of Tinubu's meeting with G5 members emerge
    Details of Tinubu's meeting with G5 members emerge

Subscribe to e-Paper

E-Vending, e paper, pdf, e-paper, Tribune

Frontpage Today

Editorial

EDITORIAL

Editorial
Opinion
Letters

BUSINESS

Capital Market
Money Market
Economy

ENTERTAINMENT

Friday Treat
Entertainment
Razzmattaz

REGIONS

South West
Niger Delta
Arewa

RELIGION

Tribune Church
Church News
Muslim Sermon
Eye of Islam
Islamic News
COLUMNS

Anike's Diary
Aplomb
Ask The Doctor
Autoclinic With The Mechanic
Awo's Thought
Borderless
Crucial Moment
Empowered For Life
Festus Adebayo's Flickers
Financewise
Gibbers
Intimacy
Language & Style
Leaders' Forum
Leadership & Management
Lynx Eye
Monday Lines
Mum & Child
Natural Health
Notes from Atlanta with Farooq Kperogi
On The Lord's Day
PENtagon
Political Panorama
Veritatem With Obadiah Mailafia
Voice of Courage
Whatsapp Conversation
You and Eye
Your Life Counts

WOMEN

Xquisite
Xquisite Food
Xquisite Style
Wondrous World of Women

MORE

Business Coach
Education
Event Digest
Crime & Court
Do It Yourself
Ecoscope
Property & Environment
Energy
Maritime
Aviation
Brands & Marketing
Agriculture
Info Tech
Labour
Leadership & Management
Achievers
Arewa Live
Arts & Culture
Arts & Reviews
Campus Beat
Politics
Health News
  • About Us
  • Contact us
  • Disclaimer
  • Privacy
  • Tribune Advertisement Rates

© 2023 Tribune Online - an online publication of African Newspapers of Nigeria Plc. All rights reserved

No Result
View All Result
  • Home
  • #NigeriaElections2023
  • News
  • Columns
  • Editorial
  • Entertainment
  • Politics
  • Health
  • Sports
  • Opinions

© 2023 Tribune Online - an online publication of African Newspapers of Nigeria Plc. All rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist