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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, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
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- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
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