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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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Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
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MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
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COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
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MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Electricity Generating Authority of Thailand
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- Miang Besar Coal Terminal - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- Coalindo Energy - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
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- Eastern Coal Council - USA
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- Australian Commodity Traders Exchange
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- Coal and Oil Company - UAE
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- Wilmar Investment Holdings
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- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
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- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
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- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
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- The State Trading Corporation of India Ltd
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- Romanian Commodities Exchange
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- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
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- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
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- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
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- Power Finance Corporation Ltd., India
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- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
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- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
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- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
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- European Bulk Services B.V. - Netherlands
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- Iligan Light & Power Inc, Philippines
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- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
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- GAC Shipping (India) Pvt Ltd
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- Rio Tinto Coal - Australia
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- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
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- Australian Coal Association
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