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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
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