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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, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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Showing 1296 to 1300 news of total 6871 |
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- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Deloitte Consulting - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Central Java Power - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
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