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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Grasim Industreis Ltd - India
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- Straits Asia Resources Limited - Singapore
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- McConnell Dowell - Australia
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- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
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- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Parliament of New Zealand
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- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Attock Cement Pakistan Limited
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- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
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- Pendopo Energi Batubara - Indonesia
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- Sakthi Sugars Limited - India
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- Samtan Co., Ltd - South Korea
- The University of Queensland
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- Deloitte Consulting - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- SMC Global Power, Philippines
- Australian Coal Association
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- Central Java Power - Indonesia
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- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
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- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
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- CNBM International Corporation - China
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- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
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- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
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- Miang Besar Coal Terminal - Indonesia
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- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
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- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
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