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Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
 KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefined and refined oil products of all types. As such there is a now growing demand for oil tankers to be used as floating storage.
Potential issues to consider
Owners who receive requests to use their vessel for floating storage should give consideration to the following issues which may arise:
Degradation of the cargo in long term storage, this can be due to a number of factors such as gum formation, bacterial growth, instability of the cargo, settlement of sediments, stratification of component ingredients, etc. It is advisable at the pre-fixture stage, or if already on charter as soon as voyage instructions are received to carry out a thorough risk assessment to ensure that the vessel is designed and capable of storing the cargo for the periods required without any change in specifications that may result in the cargo being rejected by receivers. From a Club cover perspective, it is worth noting that Club cover could potentially be prejudiced where it is evident that the vessel was not fit to carry and store the cargo on board. It is therefore advisable that Members adequately protect themselves either with an indemnity from Charterers or additional cover where possible.
Requests from charterers to mix additives, conditioners into the cargo(es) should be properly investigated to ensure that no deterioration occurs as a result of the same. Any such requests should always be recorded in writing and an indemnity sought from the charterers for any liabilities arising from their request. Any such operation should also comply with all relevant SOLAS regulations and we would recommend using the INTERTANKO Cargo Additive Clause*.
Cargo leeching into cargo tank coatings with adverse effects. Paint manufacturers should be consulted and guarantees sought where possible before agreeing to carry cargoes for prolonged periods to avoid off-spec claims, and to preserve a right of recourse against paint manufacturers, if possible.
Cargo loss due to evaporation, leaks, etc. Some product cargoes are known to have inherent qualities such that the cargo evaporates over a period of time resulting in cargo shortages. It is recommended that Members consider this and allow for any shortages by incorporating a customary allowance in the CP and an indemnity from Charterers for any claims by a third party for losses within the agreed allowance.
Extra costs incurred due to heating/circulation of cargo, port dues, supply / generation of fresh water, supply of provisions at remote locations etc.
Maintenance of safe anchorage position.
Precautionary measures
The following precautionary measures should be considered:
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Prior to loading and/or discharge a qualified surveyor shall inspect and issue a cleanliness certificate for all tanks / piping and certify that they are fully compatible with the intended cargo(es).
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Any contamination to be verified by a chemist’s analysis. Such chemist to be agreed upon by all parties
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Allocation of any survey costs to be agreed prior to loading
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Cargo quantities to be determined by pre-agreed independent surveyors
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Anchor cable should be ranged at regular intervals to prevent excessive wear.
We would recommend that the Charter party incorporates appropriate protective clauses – Members may wish to use the BIMCO” Storage Clause in Clause 21 in BPTIME 3 as a starting point. The clause is simple and provides charterers the option to use the ship for floating storage within agreed geographical limits.
Additionally, we would recommend, as a minimum, that owners incorporate:
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BIMCO Hull Fouling Clause for Time Charter Parties to avoid potential disputes about the ship’s subsequent performance and allocate responsibility for costs for hull cleaning.
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Any agreement to use the ship for floating storage purposes should be limited in duration (number of days) depending on the characteristics of the cargo being stored.
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Members may also wish to consider obtaining an indemnity from Charterers for loss, damage or delay due to storage exceeding the agreed number of days.
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Bill of lading Clause making it sufficiently clear that any Bill of Lading (negotiable / non-negotiable) will be endorsed with the words: “Cargo(es) loaded on ( insert date ) stored on board. Carrier makes no representation regarding the quality or quantity of the cargo on board”.
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Ensure that any contract for carriage and/or storage of the cargo stipulates that such carriage or storage is subject to the Hague-Visby Rules.
The above is intended as a precis of common issues that may arise and is not intended to be a comprehensive listing of issues that may arise. If Members have any specific queries, they should contact their underwriter or the loss prevention department.
Members are reminded that there is no cover in respect of liabilities which would not have been payable by the Member if the contract of carriage had incorporated the Hague Rules, the Hague-Visby Rules, or similar rights, immunities and limitations in favour of the Carrier.
Source: Standard Club
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Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
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