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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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Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- VISA Power Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Planning Commission, India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
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