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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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- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- The University of Queensland
- Bangladesh Power Developement Board
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- MS Steel International - UAE
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
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