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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
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