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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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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
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Showing 686 to 690 news of total 6871 |
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- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
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