Tank leasing
What is leasing?
What is the minimum or maximum lease period?
Does GE Seaco deliver the tank?
Where do I return the tank?
Does GE SeaCo provide fleet management services?
Who is responsible for the cost to rectify damage to a leased tank container?
Can I pay in currencies other than US dollars?
What is a Lease Termination Charge?
Why is an on-hire survey necessary?
Does GE SeaCo sell tank containers?
Does GE SeaCo provide transportation services?
Technical
What is the difference between a tank, tank container, ISOtank, intermodal tank, portable tank and demountable tank?
What is a frame tank and what is a beam tank?
What is a swap body tank container?
What is the capacity of a tank container?
Can I completely fill the tank container?
Why are there different capacities of tank container?
What tank type is required for my cargo?
Can GE SeaCo advise a tank type for a cargo?
Can I use tank containers for storage applications?
Can a tank container be manufactured to my specifications?
Where can I find information regarding dangerous goods regulations?
Cleaning, repairs and periodic testing
Where can I find cleaning and repair companies?
Where do I obtain a cleaning certificate?
What is a periodic test?
Where is the tank tested?
Who is responsible for tank testing?
When do I have to test a tank?
Is it necessary to test tanks used for static storage?
Insurance
Do I need insurance?
Damage Protection Plan
What is SeaCover?
Does SeaCover pay for repairs during the lease?
Why is SeaCover best for you?
What is not covered?
How much does SeaCover cost?
Why is there a lump sum?
Is liability insurance required?
Why is there a maximum sum of cover?
What is leasing?
GE SeaCo supplies a range of tank containers via a world-wide network of depots, charging the customer (the Lessee) a daily lease rate (rental) for the period of the lease. Its core business and expertise is in providing the tank container and associated lease product services but not transportation services. If this is required, GE SeaCo can recommend a number of specialist companies.
What is the minimum or maximum lease period?
The typical lease period for a tank container is from one to five years or more, but it can be tailored to suit user needs. There is no minimum period but there is a minimum economic price.
Does GE Seaco deliver the tank?
Tank containers are supplied from a network of world wide locations. Arrangements can be made, for a charge, to deliver the tank to the location of the customer’s choice.
Where do I return the tank?
Options for return locations are agreed at the time of lease and are detailed in the contract.
Does GE SeaCo provide fleet management services?
GE SeaCo is able to provide complete technical management services.
Who is responsible for the cost to rectify damage to a leased tank container?
The customer (the Lessee) is responsible for maintaining the tank in good condition. GE SeaCo “SeaCover” is a damage-protection plan that pays for the cost of rectifying damage.
Can I pay in currencies other than US dollars?
A lease can be arranged to suit individual needs including the currency of rental billing. Typically rates are quoted in US dollar or Euro.
What is a Lease Termination Charge?
Tanks remain on hire until the tank is returned and reinstated to the condition at on-hire. This process takes time for surveys, approval of costs, repair scheduling etc to be completed. For a set fee, the tank is off-hired on the date of return and GE SeaCo undertakes to manage the repair process without risk to the customer.
Why is an on-hire survey necessary?
The tank is serviced at a GE SeaCo depot and, following a quality inspection, is issued with a quality assurance certificate. When the customer collects the tank container it is necessary to verify the good condition with a survey. This survey is undertaken by an independent surveyor who checks each component and takes photographic evidence. The report is posted on the surveyor’s website and a copy provided to the customer. At the eventual return of the tank container, this report is used to verify new damage.
Does GE SeaCo sell tank containers?
GE SeaCo sells both new and used tanks, according to demand, and provides finance leases.
Does GE SeaCo provide transportation services?
GE SeaCo rents, leases and sells tanks—and, as a service, transports empty tank containers to the required location. GE SeaCo does not provide transportation services but is pleased to offer a list of specialist companies.
What is the difference between a tank, tank container, ISOtank, intermodal tank, portable tank and demountable tank?
Tank containers are commonly referred to as tanks, ISOtanks or tank containers. The IMDG regulations refer to portable tanks and the ADR to demountable tanks. Users should refer to the regulations for specific requirements. Intermodal tanks are containers that comply with ADR regulations, but are longer than ISO dimensions.
What is a frame tank and what is a beam tank?
“Frame” and “beam” are descriptions of the differing frame designs. Both are ISO configuration frames and used in an identical manner. The frame tank is fitted with top and bottom side rails, while the beam tank is free of these and thus a lighter weight.
What is a swap body tank container?
Swap tanks have a larger capacity and dimension than the standard 20ft ISOtank, usually 7.15m or 7.82m in length. They are mostly used in Europe on road and rail, and are not able to be transported by container vessel.
What is the capacity of a tank container?
Tank containers commonly range in capacity from 12,000 litres up to 26,000 litres. Space (ullage) is required to allow for cargo expansion and 95% to 98% is the common maximum load. A minimum fill level (usually 80%) is required to reduce instability due to surge minimum. Regulations detail the minimum and maximum fill according to the cargo.
Can I completely fill the tank container?
A space (ullage) must be left to allow for expansion of the cargo.
Why are there different capacities of tank container?
Capacity must suit the weight of the cargo and the quantity required to be transported.
What tank type is required for my cargo?
The tank type is determined by the regulations applicable to the region of use. International tanks accord with IMDG and this regulation details the tank type for each cargo. Regional regulations, such as US Dot CFR49 and European ADR, relate to the same data. Local maximum weight regulations are also a factor in the selection of tank capacity.
Can GE SeaCo advise a tank type for a cargo?
GE SeaCo provides full technical services by a team of qualified experts that includes a Dangerous Goods Advisor. The company is able to provide the right tank to meet the regulations in the region of use.
Can I use tank containers for storage applications?
Tank containers are suitable for storage applications and have the added benefit of being suitable for stacking. Regulations concerning containment apply in certain regions.
Can a tank container be manufactured to my specifications?
GE SeaCo provides a range of tanks designed for numerous applications. However, tanks can be manufactured and modified to meet individual requirements.
Where can I find information regarding dangerous goods regulations?
The Authorities publish the regulations and distribute them via their own and government booksellers. Many of the regulations are additionally accessible via their website.
| Cleaning, repairs and periodic testing |
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Where can I find cleaning and repair companies?
HCB (Hazardous Cargo Bulletin) publishes a guide containing contact details of cleaning and repair companies. GE SeaCo can additionally provide guidance.
Where do I obtain a cleaning certificate?
After a tank is cleaned, an inspection is carried out by the cleaning contractor and the tank is issued with a cleaning receipt/wash note. An independent surveyor may be appointed to provide a cleaning certificate.
What is a periodic test?
Tank container regulations require that the tank is tested at 5-year intervals and undergoes an additional intermediate test at 2.5 years.
Where is the tank tested?
Tanks are supplied with valid test certificates. If a re-test is needed during the course of
the lease, this can be done at a network of worldwide depots. It is a standard
service offered by depots and can be arranged to be completed within a day.
Who is responsible for tank testing?
The user is responsible for ensuring that tank containers are periodically tested and accord with the regulations in the region of use. GE SeaCo is able to assist with the arrangements.
When do I have to test a tank?
Tanks should be tested within 90 days of the expiry date of the valid test certificate.
Is it necessary to test tanks used for static storage?
The regulations that commonly apply to tank containers concern transportation. Tanks
used for static storage should comply with local regulations in the place of use. GE SeaCo can provide individual advice.
Do I need insurance?
A tank user is required to be insured against all liabilities. Insurance might be provided by the user’s existing insurer but, if not, there are a number of insurers specialising in tank containers. GE SeaCo can provide contacts.
What is SeaCover?
SeaCover is the means by which GE SeaCo’s customers eliminate the cost of repairing damage to the tank at the time of return. Damage up to a specified limit is covered. If the tank is used within the design specification and returned with a cleanliness certificate, off-hire costs and administration are eliminated.
Does SeaCover pay for repairs during the lease?
The option for in-service SeaCover or off-hire only is offered.
Why is SeaCover best for you?
The rigours of transportation often result in miscellaneous and accumulated damages. Surveyors will need to determine repair charges; seals and gaskets often need to be replaced; depot repair estimates analysed, verified and authorised; the quality of repair supervised; and invoices processed. This process takes management time with liability for this type of damage not usually covered by standard tank insurance. SeaCover solves these problems since it is both easy to arrange and cost effective.
What is not covered?
There are no complex insurance documents detailing onerous exclusions. Rather, SeaCover terms are included in the Lease contract. It excludes cleaning, cargo attack to the tank, negligent operation and missing non-detachable parts—making it easy to manage the repair budget.
How much does SeaCover cost?
Rates are minimised since SeaCover is included with the daily rental and a nominal fee on return. Rates depend upon the number of units leased, length of lease and region of use.
Why is there a lump sum?
To ensure that rates are kept to a minimum, the premium is charged at a daily rate and a lump sum or “deductible” at eventual off hire. It remains an option to add the lump sum pro rata to the daily charge.
Is liability insurance required?
It is necessary to retain all risks insurance. Liability insurance is usually designed to protect against specific events. SeaCover takes care of accumulated off-hire charges.
Why is there a maximum sum of cover?
Typical cover is from $3,500 to total constructive loss but can be set according to customer needs. The daily premium is according to the risk. $3,500 is sufficient to cover the average handling damage and, in the event of an accident causing damage in excess of that sum, many customers arrange to claim against existing company insurance. GE SeaCo, however, does provide cover to total constructive loss.