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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, 30 January 20
PRIVATE SECTOR COMPANIES SEEK 'LEVEL PLAYING FIELD' FOR COAL BLOCK AUCTION - PTI
Private sector companies scouting opportunities for commercial coal mining in the country are seeking a “level playing field” to encour ...
Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
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- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Planning Commission, India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
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