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