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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, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Australian Coal Association
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Baramulti Group, Indonesia
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