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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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Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Indika Energy - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- White Energy Company Limited
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