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