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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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Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
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- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
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- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
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