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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, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- The University of Queensland
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Eastern Coal Council - USA
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