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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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Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 0.2 ...
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- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- The University of Queensland
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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