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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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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
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Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- CIMB Investment Bank - Malaysia
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- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- International Coal Ventures Pvt Ltd - India
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- The State Trading Corporation of India Ltd
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- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
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- Posco Energy - South Korea
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- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
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- Indika Energy - Indonesia
- Commonwealth Bank - Australia
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- Barasentosa Lestari - Indonesia
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- Anglo American - United Kingdom
- New Zealand Coal & Carbon
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- Mjunction Services Limited - India
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- Wilmar Investment Holdings
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- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
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- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Electricity Authority, New Zealand
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- MS Steel International - UAE
- Coalindo Energy - Indonesia
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- Tata Chemicals Ltd - India
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- Georgia Ports Authority, United States
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- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
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- Parliament of New Zealand
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- Bharathi Cement Corporation - India
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- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
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- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
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- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
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- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
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- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
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- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
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- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
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- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
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