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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, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
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- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Australian Coal Association
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
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