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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, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
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- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Economic Council, Georgia
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- Australian Coal Association
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- Vijayanagar Sugar Pvt Ltd - India
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- Standard Chartered Bank - UAE
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- Interocean Group of Companies - India
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- The University of Queensland
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- Goldman Sachs - Singapore
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- Ministry of Transport, Egypt
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- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
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- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- White Energy Company Limited
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
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- Edison Trading Spa - Italy
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- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
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- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
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- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
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- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
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- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
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- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
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- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- VISA Power Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
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- Romanian Commodities Exchange
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- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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