We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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:
-
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).
-
Any contamination to be verified by a chemist’s analysis. Such chemist to be agreed upon by all parties
-
Allocation of any survey costs to be agreed prior to loading
-
Cargo quantities to be determined by pre-agreed independent surveyors
-
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:
-
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.
-
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.
-
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.
-
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”.
-
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
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 ...
|
|
|
Showing 996 to 1000 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Electricity Authority - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
|
| |
| |
|
