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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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Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
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- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- The University of Queensland
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
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