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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, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- PTC India Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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