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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
 KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and cover in respect of biological and bio-chemical weapons for the 2020 policy year.
War and terrorism risks
For 2020, cover for war and terrorism risks will remain available from the Club in accordance with the relevant proviso to Rule 3.1.1 of the Rules of Class I.
This cover will apply in excess of an insured vessel’s proper hull value, or $500 million, whichever is the lower amount, and will be for a limit of $500 million for 2020, the same figure as that which obtains for the current policy year.
Addendum I to this Circular sets out the terms of this excess cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.
Cover in respect of biological and bio-chemical weapons
The International Group of P&I Clubs’ pooling facility to provide cover for certain war and terrorism risks, which are otherwise excluded because most War Risk Hull and P&I policies contain a bio-chemical exclusion, will continue for the forthcoming policy year.
The risks covered by virtue of the pooling facility are in respect of a Member’s liability:
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to pay damages, compensation or expenses in consequence of the personal injury to, or illness or death of, any seaman (including diversion expenses, repatriation and substitute expenses and shipwreck unemployment indemnity); and
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for the legal costs and expenses incurred solely for the purpose of avoiding or minimizing any other P&I liability arising from a bio-chemical event (other than under Class 1, Rule 2, Section 20, being the “Omnibus Clause”).
The limit of cover will be $30 million (the same as for 2019) any one event for each vessel.
Addendum II to this Circular sets out the terms of this cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.
United States Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA)
The US Terrorism Risk Insurance Act of 2002 (TRIA), has been further extended by TRIPRA up to December 31, 2020.
For eligible vessels, cover for such risks will be deemed to attract a premium of $0.0025 per GT per annum, and will be included in the vessel’s overall premium.
It should be noted that, under the terms of the extension of the original TRIA provisions to year-end 2020, an industry-wide cap of $100 billion will continue to apply to all claims recoverable on the basis of TRIA/TRIPRA provisions.
Should any Member have any questions as to the intention or extent of either special cover described above, the Managers will, as always, be pleased to respond.
Source: The American Club
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Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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Showing 1141 to 1145 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Marubeni Corporation - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
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