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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, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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Showing 1736 to 1740 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Planning Commission, India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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