Mutual insurers Steamship Insurance Management advises that a new iron ore fines (IOF) Schedule to the International Maritime Solid Bulk Cargoes (IMSBC) Code governing the carriage of IOF by sea, and an amended iron ore Schedule, are being given early effect in loading ports both in Australia and Brazil.
A new iron ore fines (IOF) Schedule to the International Maritime Solid Bulk Cargoes (IMSBC) Code governing the carriage of IOF by sea, and an amended iron ore Schedule, were agreed at the IMO DSC 18 meeting in September 2013, subject to final approval by the IMO Maritime Safety Committee at its 95th session in 2015.
Australia and Brazil have now given early effect to the new Schedule. As a result, certain IOF cargoes exported from these two jurisdictions are now reclassified as Group A cargoes under the Code (cargoes which may liquefy if shipped at a moisture content in excess of their Transportable Moisture Limit (TML)), depending on the characteristics of the material.
This circular explains the criteria determining the classification of the cargo for the purposes of the IMSBC Code and the subsequent certification and declaration requirements of the shipper.
The new IOF Schedule was presented to the IMO DSC meeting as a joint proposal by the Governments of Brazil and Australia and was supported by an industry group1 led by the International Group of P&I Clubs. The Schedule is the product of a wide ranging research project undertaken by Rio Tinto, BHP Billiton and Vale which analysed the behaviour of IOF cargoes carried by sea. The research was independently reviewed by Imperial College, London and Minton, Treharne and Davies (MTD), in order to ensure that the basis for the Schedule was based on sound and impartial scientific research.
The circular referred can be downloaded at: http://bit.ly/1nXB8Ef
