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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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Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Planning Commission, India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
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