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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, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
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- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- MS Steel International - UAE
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
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