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