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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, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Planning Commission, India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
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