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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
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