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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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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
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- VISA Power Limited - India
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- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
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- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
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- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
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- Eastern Coal Council - USA
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- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
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- The University of Queensland
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
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- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
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- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
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- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
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- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
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- Interocean Group of Companies - India
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- Wilmar Investment Holdings
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- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
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- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
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- Intertek Mineral Services - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
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- Salva Resources Pvt Ltd - India
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