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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, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Australian Coal Association
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
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