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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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Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
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Showing 1216 to 1220 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
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