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