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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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Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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