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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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Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
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