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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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Thursday, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
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