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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, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
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- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
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- Sindya Power Generating Company Private Ltd
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Thai Mozambique Logistica
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- Electricity Authority, New Zealand
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- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
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- Georgia Ports Authority, United States
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- Binh Thuan Hamico - Vietnam
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- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
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- Minerals Council of Australia
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- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
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- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
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- The State Trading Corporation of India Ltd
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- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
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- Kohat Cement Company Ltd. - Pakistan
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- Metalloyd Limited - United Kingdom
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- Kalimantan Lumbung Energi - Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
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- White Energy Company Limited
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- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
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- International Coal Ventures Pvt Ltd - India
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- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
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- San Jose City I Power Corp, Philippines
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