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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, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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Showing 1436 to 1440 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- The University of Queensland
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
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