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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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- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
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