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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
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