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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, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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Showing 2476 to 2480 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- White Energy Company Limited
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
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