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