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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, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
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