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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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Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
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- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
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- Bulk Trading Sa - Switzerland
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- Ceylon Electricity Board - Sri Lanka
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- VISA Power Limited - India
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- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
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- Global Green Power PLC Corporation, Philippines
- The University of Queensland
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- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
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- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
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