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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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Showing 1731 to 1735 news of total 6871 |
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- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
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- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
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- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
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