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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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Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
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