We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
 KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of Club membership, which is typical within the mutual P&I environment, permits longer term investment and planning to be undertaken.
Estimating premiums doesn’t work as well in a commercial context because profits, arising from the underwriting performance, must be determined each year and consolidated with the insurers overall results and consequential dividends paid to shareholders. The commercial insurance environment is sometimes accused of lacking a sense of camaraderie within its named assureds. In contrast, a Member of a mutual P&I Club has a common interest in his fellow membership as they may be required to contribute to the claims of others despite possibly having made no claim themselves, or to come to the aid of fellow ship owners in the event of a catastrophe (overspill) claim.
Whilst these original principles of mutual membership are preserved, reinsurance programmes and the building up of reserves to meet outstanding liabilities generally means mutual P&I Clubs are adequately funded to meet the cost of claims without turning to their membership, as a whole, to contribute through an additional premium call.
Introducing release call
Despite the general continuity of membership there may be occasions when a Member seeks to exit their mutual P&I Club, perhaps when a ship is sold or when all or part of a fleet is withdrawn by a Member at renewal. The way in which each P&I Club handles this situation can differ depending on the Club’s calling structure. This highlights one of the important distinctions between commercial insurance and the mutual approach – the introduction of release calls.
Those Clubs that apply release calls describe them as a means of protecting the wider Club membership against the risk that, after a Member leaves, the policy year may deteriorate, exceeding the budgeted supplementary call amount and provoking an unbudgeted supplementary call to be made to the remaining Mutual members. The most common form of release call is a percentage amount that is loaded on top of the estimated supplementary call. For example, a Club may apply a release call of 10% whereas the supplementary call is set at 20% of the advance call. Consequently, upon leaving the Member would be required to pay a release call to the open policy year, of 30% of the advance call. The amount can vary depending on the status of each open year to the Club. Should premiums be collected in the format of an Estimated Total Call (ETC) the calculation of a release call may differ as the ETC technically includes the estimated supplementary call within its structure.
Release call percentages are reviewed regularly and generally reduce over time as the outcome of the open policy year becomes easier to determine.
It is important to stress that each Club adopts their own policy when it comes to release calls and in most situations, it remains possible to defer the payment of a release call by the placing of a bank guarantee from a first-class bank which would respond in the event that a supplementary call is levied for policy years in which the Member was entered.
Source: The Shipowners’ Club
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
|
|
|
Showing 1956 to 1960 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- The University of Queensland
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
|
| |
| |
|
