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