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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, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
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