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