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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, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
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- Salva Resources Pvt Ltd - India
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- Economic Council, Georgia
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- Independent Power Producers Association of India
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- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
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- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
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- MS Steel International - UAE
- Australian Commodity Traders Exchange
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- The Treasury - Australian Government
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- Intertek Mineral Services - Indonesia
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- Cement Manufacturers Association - India
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- ICICI Bank Limited - India
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- Sindya Power Generating Company Private Ltd
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- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
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- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
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- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
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- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
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- Electricity Generating Authority of Thailand
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- Global Coal Blending Company Limited - Australia
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- Holcim Trading Pte Ltd - Singapore
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- Chamber of Mines of South Africa
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- Minerals Council of Australia
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- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
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- Indonesian Coal Mining Association
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- Billiton Holdings Pty Ltd - Australia
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- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
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- GVK Power & Infra Limited - India
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- VISA Power Limited - India
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- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
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- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
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- Coastal Gujarat Power Limited - India
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- The University of Queensland
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
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- Attock Cement Pakistan Limited
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- Madhucon Powers Ltd - India
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- Electricity Authority, New Zealand
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- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
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