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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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Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
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Showing 1046 to 1050 news of total 6871 |
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- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
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