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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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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
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