We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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:
-
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
-
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
|
|
|
Showing 1251 to 1255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
|
| |
| |
|
