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