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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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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
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