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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
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Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
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- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Videocon Industries ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- VISA Power Limited - India
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- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Bhatia International Limited - India
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- Merrill Lynch Commodities Europe
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- Binh Thuan Hamico - Vietnam
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- PTC India Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
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- Global Business Power Corporation, Philippines
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- The University of Queensland
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- Indian Oil Corporation Limited
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- Indo Tambangraya Megah - Indonesia
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- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
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- Cement Manufacturers Association - India
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- Vedanta Resources Plc - India
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- Interocean Group of Companies - India
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- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
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- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
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- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
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- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
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- Altura Mining Limited, Indonesia
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- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
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- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
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- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
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- Bangladesh Power Developement Board
- Planning Commission, India
- Eastern Energy - Thailand
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- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
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- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
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- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
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