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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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Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
Tuesday, 22 December 20
INDIA'S COAL DEMAND IS SET TO EXPAND DESPITE PLUMMETING IN 2020 - IEA
Coal consumption in India amounted to 979 Mt in 2019, with the largest share being thermal coal (including lignite) for electricity generation (687 ...
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- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
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