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