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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, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
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Showing 2211 to 2215 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
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