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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, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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 ...
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- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- CNBM International Corporation - China
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Aditya Birla Group - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
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