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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, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
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