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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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Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
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- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Minerals Council of Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
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