We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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:
-
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).
-
Any contamination to be verified by a chemist’s analysis. Such chemist to be agreed upon by all parties
-
Allocation of any survey costs to be agreed prior to loading
-
Cargo quantities to be determined by pre-agreed independent surveyors
-
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:
-
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.
-
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.
-
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.
-
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”.
-
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
...
Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
|
|
|
Showing 861 to 865 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
