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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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Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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Showing 1226 to 1230 news of total 6871 |
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- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
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