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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, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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Showing 1061 to 1065 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
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