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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, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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Showing 5911 to 5915 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Australian Coal Association
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
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