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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
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