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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, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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- Bhatia International Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- PTC India Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- The University of Queensland
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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