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