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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, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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Showing 5311 to 5315 news of total 6871 |
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- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
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