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