We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
|
|
|
Showing 3416 to 3420 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
|
| |
| |
|
