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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, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Directorate General of MIneral and Coal - Indonesia
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- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
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- ICICI Bank Limited - India
- Minerals Council of Australia
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- Tata Chemicals Ltd - India
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- Thai Mozambique Logistica
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- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
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- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
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- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
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- Australian Commodity Traders Exchange
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- Mercator Lines Limited - India
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- London Commodity Brokers - England
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- MS Steel International - UAE
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
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