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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
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