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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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Showing 1351 to 1355 news of total 6871 |
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- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
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