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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, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Planning Commission, India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- The University of Queensland
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
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