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