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