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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, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Central Electricity Authority - India
- Planning Commission, India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
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