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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, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Australian Coal Association
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Posco Energy - South Korea
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
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