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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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- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
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