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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 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
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