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.
|
|
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
|
|
|
Showing 901 to 905 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
|
| |
| |
|
