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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, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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Showing 3366 to 3370 news of total 6871 |
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- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
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