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Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
 Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of California on criminal fines for oil spill violations in state waters entered into force on 1 January 2021. BIMCO takes the opportunity to remind members about the importance of strict compliance with this and other environmental laws.
The new California law, which entered into force on 1 January 2021, doubles the existing minimum and maximum fines for certain oil spill violations related, among other things, to persons who knowingly engage in or cause the discharge or spill of oil into waters or knowingly fail to begin clean-up etc. of spilled oil. For certain violations the new law also authorises the court, at its discretion, to impose a fine of up to USD 1,000 per gallon spilled in excess of 1,000 gallons of oil – a fine which is not statutorily capped.
Members should be particularly aware that the increased fines can be applied both to intentional violations and violations resulting from negligence (“a person who reasonably should have known”). The law applies to a wide range of corporations and individuals, including, but not limited to, owners, operators, and managers of ships of all types and their employees.
According to a Circular of 4 December 2020 available from the International Group of P&I Clubs (IG), the IG Clubs have considered the potential impact of the new law on cover for pollution risks and do not believe it would be appropriate to seek to amend the existing limit of cover to respond to the significant but nonetheless isolated new piece of legislation. The IG Clubs also believe that such an amendment, in any event, would be impossible to achieve within the current confines of the global reinsurance markets if sufficient cover were to be required to respond in full to the maximum level of fines that might potentially be levied by the Californian courts for accidental pollution.
In its circular, the IG Club Members are reminded that there is already cover of USD 1 billion per ship per incident for oil pollution damage, which covers response costs and third party claims as well as fines where they fall under Club Rules, and all limits of liability under OPA `90 regardless of ship type remain capable of cover well within this capacity.
BIMCO is liaising with the International Chamber of Shipping (ICS) about the impact of the new law on shipping operations in the State of California and would welcome any feedback from members trading in these waters.
Source: BIMCO
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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
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