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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
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