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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, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
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