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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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Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
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