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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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Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Vijayanagar Sugar Pvt Ltd - India
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- Economic Council, Georgia
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- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
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- Romanian Commodities Exchange
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- Billiton Holdings Pty Ltd - Australia
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- ICICI Bank Limited - India
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- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
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- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
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- Mercuria Energy - Indonesia
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- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
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- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Planning Commission, India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
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- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- The University of Queensland
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- Minerals Council of Australia
- Siam City Cement PLC, Thailand
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- Global Green Power PLC Corporation, Philippines
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- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
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- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
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- Chamber of Mines of South Africa
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- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
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- Karbindo Abesyapradhi - Indoneisa
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