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Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
 KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover additional expenses incurred in complying with charterers’ orders to stop loading operations.
The Facts
The vessel was voyage chartered for a voyage from the USA to Venezuela. Upon arrival at the load port, loading commenced. When charterers became aware of this they ordered the loading to stop. Loading did not then recommence until four days later. Owners claimed from charterers the additional dockage, security and guards’ expenses incurred as a result of the four day interruption to loading.
The Load Port Expenses
In respect of the additional load port expenses, the Tribunal held that the allocation of such expenses would usually fall to owners under the charterparty terms. This was because the charterers were entitled to use the laytime as they wished and so it followed that the associated expenses had to lie where they fell, i.e. with the owners. However, the Tribunal accepted evidence from the owners that an oral agreement had been reached between the owners and the charterers that charterers had agreed to pay the owners’ invoice in full, which included the additional port expenses. It was, therefore, as a result of this additional oral agreement that the Tribunal ordered the charterers to pay the additional port expenses to the owners. Without this oral agreement, which changed the terms of the charterparty, the owners would not have received any compensation for the additional load port expenses incurred as a result of the four day delay.
A Reminder
It is worth reminding owners that charterers do have an absolute right to use the given laytime as they see fit. There is no duty on them to load or discharge faster than the given laytime. Therefore, if a charterer orders the vessel to stop cargo operations when laytime is running, the port expenses incurred during the stop will usually be for owners. This is unless a specific clause (or additional oral or written agreement on this point) can be agreed between the owners and the charterers to the contrary.
Source: North of England P&I Club
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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- White Energy Company Limited
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- Coal and Oil Company - UAE
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- Electricity Authority, New Zealand
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- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
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- Bangladesh Power Developement Board
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- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
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- Maharashtra Electricity Regulatory Commission - India
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- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
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- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
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- Siam City Cement PLC, Thailand
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- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
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- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Xindia Steels Limited - India
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- Bulk Trading Sa - Switzerland
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- Billiton Holdings Pty Ltd - Australia
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- PowerSource Philippines DevCo
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- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
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- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
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- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
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- Tata Chemicals Ltd - India
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- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
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- Singapore Mercantile Exchange
- Anglo American - United Kingdom
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- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Wilmar Investment Holdings
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