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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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Showing 1631 to 1635 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Indian Energy Exchange, India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
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