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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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Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
Tuesday, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
Tuesday, 14 January 20
DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
KNOWLEDGE TO ELEVATE
Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
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- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
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