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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Singapore Mercantile Exchange
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
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