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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, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
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Showing 1951 to 1955 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
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- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
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- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
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- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
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- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
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- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
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- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Planning Commission, India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
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- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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- Wilmar Investment Holdings
- New Zealand Coal & Carbon
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- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Coal and Oil Company - UAE
- Indika Energy - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
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- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
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- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
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- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
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- Straits Asia Resources Limited - Singapore
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