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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
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