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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, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
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