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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, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
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- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
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- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
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