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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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Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
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- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
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- Cigading International Bulk Terminal - Indonesia
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- Electricity Generating Authority of Thailand
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- PowerSource Philippines DevCo
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- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
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- CNBM International Corporation - China
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- The University of Queensland
- Bayan Resources Tbk. - Indonesia
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- Binh Thuan Hamico - Vietnam
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- Ministry of Transport, Egypt
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- Karaikal Port Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
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- Eastern Energy - Thailand
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- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Deloitte Consulting - India
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- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
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