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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, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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Showing 6461 to 6465 news of total 6871 |
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- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
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