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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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Wednesday, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
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Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Australian Coal Association
- Parliament of New Zealand
- The University of Queensland
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
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