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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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Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Australian Coal Association
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
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