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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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Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Electricity Authority, New Zealand
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