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