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