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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, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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