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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
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