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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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Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
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Showing 2511 to 2515 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
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