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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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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
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- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
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