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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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Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
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- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- White Energy Company Limited
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
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