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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, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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Showing 2551 to 2555 news of total 6871 |
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- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Planning Commission, India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
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