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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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- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
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