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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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Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Borneo Indobara - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
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- Aditya Birla Group - India
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- London Commodity Brokers - England
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- Bangladesh Power Developement Board
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- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
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- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
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- TeaM Sual Corporation - Philippines
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- Singapore Mercantile Exchange
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- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
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- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
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- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Attock Cement Pakistan Limited
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- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
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- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
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- Vizag Seaport Private Limited - India
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- Central Java Power - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
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- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Economic Council, Georgia
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- Indian Oil Corporation Limited
- Parliament of New Zealand
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- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
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