We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
 KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of Club membership, which is typical within the mutual P&I environment, permits longer term investment and planning to be undertaken.
Estimating premiums doesn’t work as well in a commercial context because profits, arising from the underwriting performance, must be determined each year and consolidated with the insurers overall results and consequential dividends paid to shareholders. The commercial insurance environment is sometimes accused of lacking a sense of camaraderie within its named assureds. In contrast, a Member of a mutual P&I Club has a common interest in his fellow membership as they may be required to contribute to the claims of others despite possibly having made no claim themselves, or to come to the aid of fellow ship owners in the event of a catastrophe (overspill) claim.
Whilst these original principles of mutual membership are preserved, reinsurance programmes and the building up of reserves to meet outstanding liabilities generally means mutual P&I Clubs are adequately funded to meet the cost of claims without turning to their membership, as a whole, to contribute through an additional premium call.
Introducing release call
Despite the general continuity of membership there may be occasions when a Member seeks to exit their mutual P&I Club, perhaps when a ship is sold or when all or part of a fleet is withdrawn by a Member at renewal. The way in which each P&I Club handles this situation can differ depending on the Club’s calling structure. This highlights one of the important distinctions between commercial insurance and the mutual approach – the introduction of release calls.
Those Clubs that apply release calls describe them as a means of protecting the wider Club membership against the risk that, after a Member leaves, the policy year may deteriorate, exceeding the budgeted supplementary call amount and provoking an unbudgeted supplementary call to be made to the remaining Mutual members. The most common form of release call is a percentage amount that is loaded on top of the estimated supplementary call. For example, a Club may apply a release call of 10% whereas the supplementary call is set at 20% of the advance call. Consequently, upon leaving the Member would be required to pay a release call to the open policy year, of 30% of the advance call. The amount can vary depending on the status of each open year to the Club. Should premiums be collected in the format of an Estimated Total Call (ETC) the calculation of a release call may differ as the ETC technically includes the estimated supplementary call within its structure.
Release call percentages are reviewed regularly and generally reduce over time as the outcome of the open policy year becomes easier to determine.
It is important to stress that each Club adopts their own policy when it comes to release calls and in most situations, it remains possible to defer the payment of a release call by the placing of a bank guarantee from a first-class bank which would respond in the event that a supplementary call is levied for policy years in which the Member was entered.
Source: The Shipowners’ Club
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
|
|
|
Showing 1886 to 1890 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
|
| |
| |
|
