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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- The University of Queensland
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
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