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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Videocon Industries ltd - India
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