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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
 KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and cover in respect of biological and bio-chemical weapons for the 2020 policy year.
War and terrorism risks
For 2020, cover for war and terrorism risks will remain available from the Club in accordance with the relevant proviso to Rule 3.1.1 of the Rules of Class I.
This cover will apply in excess of an insured vessel’s proper hull value, or $500 million, whichever is the lower amount, and will be for a limit of $500 million for 2020, the same figure as that which obtains for the current policy year.
Addendum I to this Circular sets out the terms of this excess cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.
Cover in respect of biological and bio-chemical weapons
The International Group of P&I Clubs’ pooling facility to provide cover for certain war and terrorism risks, which are otherwise excluded because most War Risk Hull and P&I policies contain a bio-chemical exclusion, will continue for the forthcoming policy year.
The risks covered by virtue of the pooling facility are in respect of a Member’s liability:
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to pay damages, compensation or expenses in consequence of the personal injury to, or illness or death of, any seaman (including diversion expenses, repatriation and substitute expenses and shipwreck unemployment indemnity); and
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for the legal costs and expenses incurred solely for the purpose of avoiding or minimizing any other P&I liability arising from a bio-chemical event (other than under Class 1, Rule 2, Section 20, being the “Omnibus Clause”).
The limit of cover will be $30 million (the same as for 2019) any one event for each vessel.
Addendum II to this Circular sets out the terms of this cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.
United States Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA)
The US Terrorism Risk Insurance Act of 2002 (TRIA), has been further extended by TRIPRA up to December 31, 2020.
For eligible vessels, cover for such risks will be deemed to attract a premium of $0.0025 per GT per annum, and will be included in the vessel’s overall premium.
It should be noted that, under the terms of the extension of the original TRIA provisions to year-end 2020, an industry-wide cap of $100 billion will continue to apply to all claims recoverable on the basis of TRIA/TRIPRA provisions.
Should any Member have any questions as to the intention or extent of either special cover described above, the Managers will, as always, be pleased to respond.
Source: The American Club
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Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
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Showing 1211 to 1215 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- The University of Queensland
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
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