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, 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 ...
|
|
|
Showing 976 to 980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
|
| |
| |
|
