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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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Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
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- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Indian Oil Corporation Limited
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- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
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- MS Steel International - UAE
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- PNOC Exploration Corporation - Philippines
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- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
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- European Bulk Services B.V. - Netherlands
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- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
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- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Thai Mozambique Logistica
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- Minerals Council of Australia
- Economic Council, Georgia
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- Singapore Mercantile Exchange
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- Eastern Energy - Thailand
- Indonesian Coal Mining Association
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- Ambuja Cements Ltd - India
- Australian Coal Association
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- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
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- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
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- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
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- New Zealand Coal & Carbon
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- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- White Energy Company Limited
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- Bulk Trading Sa - Switzerland
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- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
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