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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
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- The State Trading Corporation of India Ltd
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- Meralco Power Generation, Philippines
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- Georgia Ports Authority, United States
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- Barasentosa Lestari - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- European Bulk Services B.V. - Netherlands
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- Singapore Mercantile Exchange
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- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
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- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
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- SMC Global Power, Philippines
- Trasteel International SA, Italy
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- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
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- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
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- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
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- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
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- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
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- Posco Energy - South Korea
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
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- Riau Bara Harum - Indonesia
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- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
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- Chamber of Mines of South Africa
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- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
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- Dalmia Cement Bharat India
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