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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, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT 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 increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- PTC India Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
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