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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
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Saturday, 07 December 19
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SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
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Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Electricity Generating Authority of Thailand
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- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Parliament of New Zealand
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- The Treasury - Australian Government
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- Chamber of Mines of South Africa
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- White Energy Company Limited
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- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
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- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
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- VISA Power Limited - India
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- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
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- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
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- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
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- Goldman Sachs - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
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- Savvy Resources Ltd - HongKong
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