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Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
 KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or any other place for more than 28 days and therefore vessel’s speed, due to bottom fouling which may have formed to the ship’s hull as a direct result of such prolonged stay, is reduced and/or consumption increased. In case of need for underwater cleaning same to be for Charterer’s account in terms of time and expenses.”
Under the first charter, Owners contended that as a result of the high temperature of the sea water at the loadport, where the vessel had stayed for 48 days, the hull, propeller and rudder were fouled. An underwater inspection at the discharge port confirmed this. Owners informed Charterers that the fouling was due to the vessel’s prolonged stay at the loadport, for which Charterers should be held responsible.
Subsequently, the second charter was concluded in substantially the same terms as the first. No underwater cleaning was carried out between redelivery under the first charter and simultaneous redelivery into the second charter.
Owners claimed a balance of hire under both charters, plus sums in lieu of hold cleaning on redelivery under each charter and stevedore damage incurred during discharge under the second charter. Charterers argued that they were entitled to make deductions under both charters for under-performance and overconsumption.
The Tribunal found that bottom fouling did occur during the prolonged stay at the loadport under the first charter, and that this affected the vessel’s speed and consumption. This was supported by the fact that the vessel performed in accordance with the charter warranties on her voyage to that loadport. Under clause 128(1), Owners had no responsibility for the vessel’s failure to make her speed and consumption warranties, and so Charterers’ underperformance claim in respect of the first voyage failed.
As regards the second charter, Owners argued that Charterers had taken the vessel in direct continuation of the first charter, and thereby did not allow the hull to be cleaned after the vessel’s prolonged stay at the first loadport. Owners submitted that Charterers were estopped by their actions from claiming under-performance in respect of the second voyage.
The Tribunal rejected this argument. Owners were aware of the likelihood of hull fouling when the second charter was concluded, and had already written to Charterers in protest. Despite this, they fixed the vessel on identical terms. Owners therefore took the risk that the vessel may not be able to make her speed and performance warranties due to the hull fouling which occurred under the first charter. There was nothing in Charterers’ conduct to found an estoppel. They agreed the fixture on terms acceptable to Owners and took delivery of the vessel. Owners had to stand by the warranties they had given, and pay damages for any proven breach.
Charterers’ claim for under-performance under the second charter therefore succeeded, although the Tribunal reduced the amount to be deducted to take into account commission. Only part of the deduction for overconsumption was allowed, as some of the deductions made by Charterers in respect of the second voyage in fact related to underperformance and overconsumption the first voyage. Those claims failed for the same reason as the claims under the first charter.
Source: Reed Smith
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Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
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- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- White Energy Company Limited
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- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
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- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
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- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
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- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
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