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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, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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Showing 5526 to 5530 news of total 6871 |
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- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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