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