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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, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
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The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Standard Chartered Bank - UAE
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- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
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- European Bulk Services B.V. - Netherlands
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- Alfred C Toepfer International GmbH - Germany
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- Africa Commodities Group - South Africa
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- Bulk Trading Sa - Switzerland
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- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
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- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
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- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
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- Edison Trading Spa - Italy
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- Siam City Cement PLC, Thailand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
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- Heidelberg Cement - Germany
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- IHS Mccloskey Coal Group - USA
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- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
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- Globalindo Alam Lestari - Indonesia
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- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
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- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Planning Commission, India
- The University of Queensland
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- Electricity Authority, New Zealand
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- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
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- Formosa Plastics Group - Taiwan
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- Metalloyd Limited - United Kingdom
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- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
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