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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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Showing 5446 to 5450 news of total 6871 |
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- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Planning Commission, India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
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