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