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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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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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Showing 1551 to 1555 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
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