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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, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
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JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
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