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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, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
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- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- The University of Queensland
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
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