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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, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Commonwealth Bank - Australia
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- IEA Clean Coal Centre - UK
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- IHS Mccloskey Coal Group - USA
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- McConnell Dowell - Australia
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- Independent Power Producers Association of India
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- Therma Luzon, Inc, Philippines
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- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
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- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
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- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
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- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
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- Samtan Co., Ltd - South Korea
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- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
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- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
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- The Treasury - Australian Government
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- PNOC Exploration Corporation - Philippines
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- Ambuja Cements Ltd - India
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- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- GAC Shipping (India) Pvt Ltd
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- Global Coal Blending Company Limited - Australia
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