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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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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Sindya Power Generating Company Private Ltd
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- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
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- Barasentosa Lestari - Indonesia
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- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
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- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- IHS Mccloskey Coal Group - USA
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
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- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
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- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Planning Commission, India
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- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
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- Global Green Power PLC Corporation, Philippines
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- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
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- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
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- Independent Power Producers Association of India
- Mercator Lines Limited - India
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- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
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- White Energy Company Limited
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- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
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- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
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- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- PTC India Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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