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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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Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
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- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
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- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
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- Xindia Steels Limited - India
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- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
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- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
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- Energy Development Corp, Philippines
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- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
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- Oldendorff Carriers - Singapore
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- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
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