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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, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
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Showing 3296 to 3300 news of total 6871 |
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- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
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