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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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Showing 1216 to 1220 news of total 6871 |
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- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
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