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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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Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
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- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Central Electricity Authority - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
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