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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, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
Friday, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
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- TNB Fuel Sdn Bhd - Malaysia
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- Billiton Holdings Pty Ltd - Australia
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- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
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- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
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- Leighton Contractors Pty Ltd - Australia
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- Eastern Coal Council - USA
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- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
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- Coal and Oil Company - UAE
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- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
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- Eastern Energy - Thailand
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- Kartika Selabumi Mining - Indonesia
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- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
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- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
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- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
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- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
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- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
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- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Medco Energi Mining Internasional
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- PTC India Limited - India
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- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
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- Wilmar Investment Holdings
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- Bhatia International Limited - India
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- Mercator Lines Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
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- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
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- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Australian Coal Association
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
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- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
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