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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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Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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Showing 1226 to 1230 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- The University of Queensland
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Australian Coal Association
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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