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