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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
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Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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Showing 1561 to 1565 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
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