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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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Showing 1241 to 1245 news of total 6871 |
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- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
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