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Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
 Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of California on criminal fines for oil spill violations in state waters entered into force on 1 January 2021. BIMCO takes the opportunity to remind members about the importance of strict compliance with this and other environmental laws.
The new California law, which entered into force on 1 January 2021, doubles the existing minimum and maximum fines for certain oil spill violations related, among other things, to persons who knowingly engage in or cause the discharge or spill of oil into waters or knowingly fail to begin clean-up etc. of spilled oil. For certain violations the new law also authorises the court, at its discretion, to impose a fine of up to USD 1,000 per gallon spilled in excess of 1,000 gallons of oil – a fine which is not statutorily capped.
Members should be particularly aware that the increased fines can be applied both to intentional violations and violations resulting from negligence (“a person who reasonably should have known”). The law applies to a wide range of corporations and individuals, including, but not limited to, owners, operators, and managers of ships of all types and their employees.
According to a Circular of 4 December 2020 available from the International Group of P&I Clubs (IG), the IG Clubs have considered the potential impact of the new law on cover for pollution risks and do not believe it would be appropriate to seek to amend the existing limit of cover to respond to the significant but nonetheless isolated new piece of legislation. The IG Clubs also believe that such an amendment, in any event, would be impossible to achieve within the current confines of the global reinsurance markets if sufficient cover were to be required to respond in full to the maximum level of fines that might potentially be levied by the Californian courts for accidental pollution.
In its circular, the IG Club Members are reminded that there is already cover of USD 1 billion per ship per incident for oil pollution damage, which covers response costs and third party claims as well as fines where they fall under Club Rules, and all limits of liability under OPA `90 regardless of ship type remain capable of cover well within this capacity.
BIMCO is liaising with the International Chamber of Shipping (ICS) about the impact of the new law on shipping operations in the State of California and would welcome any feedback from members trading in these waters.
Source: BIMCO
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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
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