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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 $100 billion will continue to apply to all claims recoverable on the basis of TRIA/TRIPRA provisions.
Should any Member have any questions as to the intention or extent of either special cover described above, the Managers will, as always, be pleased to respond.
Source: The American Club
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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
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Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
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JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
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