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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, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT 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 increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- VISA Power Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
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