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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, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Australian Coal Association
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
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