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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, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Semirara Mining Corp, Philippines
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- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
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- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
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- Maharashtra Electricity Regulatory Commission - India
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- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
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- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
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- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
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- Economic Council, Georgia
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- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
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- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
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- Jaiprakash Power Ventures ltd
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- IEA Clean Coal Centre - UK
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- Meralco Power Generation, Philippines
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- MS Steel International - UAE
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
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- GN Power Mariveles Coal Plant, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
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- Indonesian Coal Mining Association
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- Power Finance Corporation Ltd., India
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- Indian Energy Exchange, India
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- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
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- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
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- Tata Chemicals Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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