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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, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
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- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
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- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
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- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
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- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
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- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
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- Anglo American - United Kingdom
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- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
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- Petron Corporation, Philippines
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
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- Bhoruka Overseas - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
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- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
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- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
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- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
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