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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Independent Power Producers Association of India
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- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
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- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
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- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
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- Thai Mozambique Logistica
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- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
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- Latin American Coal - Colombia
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- Directorate Of Revenue Intelligence - India
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- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
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- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
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- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
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- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
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- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
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- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
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- Renaissance Capital - South Africa
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- Vedanta Resources Plc - India
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- CIMB Investment Bank - Malaysia
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