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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, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
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