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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- The University of Queensland
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
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