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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, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
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- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
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- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Planning Commission, India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Cement Manufacturers Association - India
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