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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- MS Steel International - UAE
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
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