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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, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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Showing 1716 to 1720 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
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