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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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Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
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- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
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