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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
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- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
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- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
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- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
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