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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, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Indonesian Coal Mining Association
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