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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, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- The University of Queensland
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- Economic Council, Georgia
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- Petron Corporation, Philippines
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- Energy Development Corp, Philippines
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- Singapore Mercantile Exchange
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- Australian Coal Association
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- Mintek Dendrill Indonesia
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- Ministry of Finance - Indonesia
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- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Minerals Council of Australia
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- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Bharathi Cement Corporation - India
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- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
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- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
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- Merrill Lynch Commodities Europe
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- San Jose City I Power Corp, Philippines
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- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
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- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
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- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
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- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
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- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
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- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
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- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
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- South Luzon Thermal Energy Corporation
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- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
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