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.
|
|
Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
|
|
|
Showing 981 to 985 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- White Energy Company Limited
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
