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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, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- White Energy Company Limited
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
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