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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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Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Indian Oil Corporation Limited
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