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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, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
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- ICICI Bank Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Planning Commission, India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- The University of Queensland
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
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