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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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Tuesday, 05 January 16
4200 GAR COAL INDEX FALL TOWARD $27;SLIPPED 28.05% YEAR-TO-DATE
COALspot.com: Average 5000 GAR coal index has not moved in the past week, averaging $40.12 per ton on last Thursday, according to CS (i) Coal Index ...
Monday, 04 January 16
CFR SOUTH CHINA COAL SWAP REMAIN FLAT OVER CHRISTMAS & NEW YEAR HOLIDAYS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Friday, 01 January 16
FOB INDONESIA COAL SWAP FOR Q1'16 DELIVERY CLOSED AT $36.75 PER TON
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month but flat week over week.
According to AsiaClear OTC coal swap' ...
Thursday, 31 December 15
COAL PRICES FELL ON WEAK DEMAND
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 ...
Thursday, 31 December 15
2016 FOB NEWCASTLE COAL SWAP RALLY TO CLOSE AT $37.98/TON
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.48 per ton (4.05%) this past week compared to the sam ...
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- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
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- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
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- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
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- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
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- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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- GN Power Mariveles Coal Plant, Philippines
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- Latin American Coal - Colombia
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- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
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- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
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- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
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- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- The University of Queensland
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- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
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- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
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