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