Floating Storage definition

Floating Storage means approximately 2.1 million barrels in aggregate of floating storage capacity on board Oman Shipping Company S.A.O.C. VLCC which is to be operated by Oman Tank Terminal Company in Omani waters.
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Examples of Floating Storage in a sentence

  • The industrialisation of Westernport Bay in the form of huge gas tankers and a Floating Storage and Regasification Unit will undermine the beauty of the area and be inconsistent with the perception that it is a pristine and protected wetland.

  • On-board pollution incident emergency plans for offshore units, including Floating Production, Storage and Offloading Facilities and Floating Storage Units, should be dealt with under national provisions and/or company environmental management systems, and are excluded from the application of this article.

  • Floating Storage Offloading Unit or FSO—A converted or new build barge or tanker, moored at a location to receive crude or other products for storage and transfer purposes.

  • Clearing Members having open short positions after trading has ceased shall give the Clearing House a notice of intention to deliver from floating storage (Notice of Intention to Deliver from Floating Storage) by 14:00 (New York time) on the first (1st) Clearing Business Day after the last Trading Day in the applicable Contract Month.

  • Both of the implications point towards the notion that the migration effect is the schooling effect.

  • Ships include Floating Production, Storage and Offloading vessels (FPSOs), also called a "unit" or a "system"; and Floating Storage Units, (FSUs).

  • Nominated STS Tankers should be provided with adequate facilities to comply with the safety check lists in accordance with ICS /OCIMF STS Transfer Guide Petroleum 2013 or the latest edition as amended while ensuring that cargo transfer and STS plans are agreed and understood by the relevant personal of the nominated STS Tanker and the Floating Storage Facility.

  • The high capital investment involved in the construction of the loading and discharge terminals on land, is leading the LNG market players to simultaneously look at alternate options such as Floating Storage Regasification Units (FSRUs), Small LNG carriers for coastal LNG shipping, Floating Liquefied Natural Gas (FLNG) carriers etc.Your company jointly owns and operates 3 LNG carriers under long term charters with charterers Petronet LNG Limited, India for transportation of LNG predominantly from Qatar.

  • The Project will also comprise the construction of a 1,070-kilometer pipeline from the oil fields to Cameroon’s Atlantic coast at Kribi, three related pumping stations, ancillary facilities, infrastructure improvements, and installation of an offshore Floating Storage and Offloading (FSO) vessel with an 11-kilometer submarine pipeline from the coastline near Kribi to the vessel.

  • The risk and title in the Oil transfers under the terms of the Physical Contract at the Floating Storage shall pass from the Selling Customer to the Buying Customer at the nominated Vessel’s manifold.

Related to Floating Storage

  • Floating home means a building on a float used in whole or in part for human habitation as a single-family dwelling, which is not designed for self-propulsion by mechanical means or for propulsion by means of wind, and which is on the property tax rolls of the county in which it is located.

  • Floating Swap Payment With respect to any Distribution Date on or prior to the Distribution Date in January 2010, an amount equal to the product of (x) Swap LIBOR, (y) the Swap Agreement Notional Balance for that Distribution Date and (z) a fraction, the numerator of which is equal to the number of days in the related calculation period as provided in the Swap Agreement and the denominator of which is 360.

  • External floating roof means a storage vessel cover in an open tank top consisting of a double deck or pontoon single deck which rests upon and is supported by the petroleum liquid being contained and is equipped with a closure seal or seals to close the space between the roof edge and tank shell.

  • Internal floating roof means a cover or roof in a fixed-roof tank that rests upon or is floated upon, the liquid being contained, and is equipped with a closure seal or seals to close the space between the roof edge and the tank shell.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Intermodal Rail Yard means a rail facility in which cargo is transferred from drayage truck to train or vice-versa.

  • Electric bicycle means a “class 1 electric bicycle”, a “class 2 electric bicycle”, or a “class 3 electric bicycle” as defined in this section. (ORC 4511.01(RRR))

  • Single Phase Aerosol Air Freshener means an aerosol air freshener with the liquid contents in a single homogeneous phase and which does not require that the product container be shaken before use.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Private Sewage Disposal System means a system which provides for the treatment or disposal of domestic sewage from four or fewer dwelling units or the equivalent of less than sixteen individuals on a continuing basis.

  • BBBEE means broad-based black economic empowerment as defined in section 1 of the Broad-Based Black Economic Empowerment Act;

  • Houseboat means a powered vessel containing living accommodation, usually flat- bottomed and used in navigation.

  • Floating Rate means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day plus (ii) ABR Applicable Margin for such day, in each case changing when and as the Alternate Base Rate changes.

  • Pretreatment coating means a coating which contains no more than 12% solids by weight, and at least 0.5% acid by weight, is used to provide surface etching, and is applied directly to metal surfaces to provide corrosion resistance, adhesion, and ease of stripping.

  • Coating line means one or more apparatus or operations which include a coating applicator, flash-off area, and oven wherein a surface coating is applied, dried, or cured.

  • Primary highway means any highway, other than an inter- state highway, at any time officially designated as a part of the fed- eral−aid primary system by the department and approved by the appropriate authority of the federal government.

  • Floating Amount The product of (a) the Notional Amount (b) the Floating Rate Day Count Fraction and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If USD-LIBOR-BBA is greater than the Cap Rate I for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - applicable Cap Rate I) provided, however, that if USD-LIBOR-BBA for any Calculation Period is greater than the Cap Rate II then the USD-LIBOR-BBA for such Calculation Period shall be deemed to be the Cap Rate II. If 1 Month USD-LIBOR-BBA is less than or equal to the Cap Rate I for the applicable Calculation Period, then Settlement Spread = Zero. Floating Rate for initial Calculation Period: To be determined Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 month Spread: None Floating Rate Day Count Fraction: 30/360 Reset Dates: First day of each Calculation Period. Business Days: New York Calculation Agent: Party A

  • Master plumber means an individual who possesses the necessary skills and qualifications to plan and supervise the installation of plumbing and who is licensed as a master plumber.

  • Ambient air means that portion of the atmosphere, external to buildings, to which the general public has access.

  • Sailboat means the same as that term is defined in Section 73-18-2.

  • Double Phase Aerosol Air Freshener means an aerosol air freshener with the liquid contents in two or more distinct phases that requires the product container be shaken before use to mix the phases, producing an emulsion.

  • Sewage sludge weight means the weight of sewage sludge, in dry U.S. tons, including admixtures such as liming materials or bulking agents. Monitoring frequencies for sewage sludge parameters are based on the reported sludge weight generated in a calendar year (use the most recent calendar year data when the NPDES permit is up for renewal).

  • QUALIFIED MUNICIPAL CORPORATION means a municipal corporation that, by resolution or ordinance adopted on or before December 31, 2011, adopted Ohio adjusted gross income, as defined by section 5747.01 of the Ohio Revised Code, as the income subject to tax for the purposes of imposing a municipal income tax.

  • garden waste means organic waste which emanates from gardening or landscaping activities at residential, business or industrial premises including but not limited to grass cuttings, leaves, branches, and includes any biodegradable material and excludes waste products of animal origin and bulky waste;

  • Sewage disposal system means all interceptor sewers, storm sewers, sanitary sewers, combined sanitary and storm sewers, sewage treatment plants, and all other plants, works, instrumentalities, and properties used or useful in connection with the collection, treatment, and disposal of sewage and industrial wastes, and includes a storm water drain system under the jurisdiction and control of a governmental agency.

  • Major transit investment corridor means public transit service that uses or occupies: