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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, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
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Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
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Showing 1771 to 1775 news of total 6871 |
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- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
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