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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, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
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