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