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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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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
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