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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, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
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It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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Showing 2426 to 2430 news of total 6871 |
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- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
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