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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, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
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- Asmin Koalindo Tuhup - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Parliament of New Zealand
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- Sical Logistics Limited - India
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- Electricity Authority, New Zealand
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- Renaissance Capital - South Africa
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- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
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- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
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- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
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- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
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- India Bulls Power Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
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- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- The State Trading Corporation of India Ltd
- Australian Coal Association
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- Meralco Power Generation, Philippines
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- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
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- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
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- Interocean Group of Companies - India
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- Economic Council, Georgia
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- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
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- Planning Commission, India
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- The University of Queensland
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
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- Bangladesh Power Developement Board
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- Bhoruka Overseas - Indonesia
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- Georgia Ports Authority, United States
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