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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, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
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