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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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Friday, 29 January 21
COAL EXPORTS FROM AUSTRALIA TO MAINLAND CHINA DECLINED BY -22.2% Y-O-Y IN 2020 - BANCHERO COSTA
In the 12 months of 2020, global seaborne coal trade declined by as much as -12.7% year-on-year, according to vessel tracking data from Refinitiv, ...
Friday, 29 January 21
OPEC+, COVID-19 AND ENERGY TRANSITION - 3 THEMES IMPACTING OIL MARKETS AND REFINING IN 2021 - WOOD MACKENZIE
Wood Mackenzie’s latest outlook report shows that the art of balancing oil markets and the refining sector in 2021 hinges upon three key them ...
Thursday, 28 January 21
STRONG CHINESE THERMAL COAL IMPORTS TO BENEFIT INDONESIAN MINERS IN THE NEAR TERM - FITCH RATINGS
China's thermal coal imports are likely to remain strong ahead of the Chinese New Year in mid-February on robust demand, high utilisation at do ...
Thursday, 28 January 21
WIND PROPULSION FOR DRY BULK CARRIERS - OLDENDORFF
Oldendorff Carriers (OC) has signed a Joint Development Project (JDP) with Anemoi Marine Technologies (Anemoi), Lloyd’s Register (LR) and Sha ...
Thursday, 28 January 21
BUMA PRICED A USD400 MILLION 7.75% 5-YEAR SENIOR NOTES
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama priced a USD400 million 5-year (non-callable 2-year)& ...
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- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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