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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, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
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The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
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Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
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Showing 2561 to 2565 news of total 6871 |
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- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
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