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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, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
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 ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
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Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
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- Parliament of New Zealand
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- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
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- Larsen & Toubro Limited - India
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- GN Power Mariveles Coal Plant, Philippines
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- Minerals Council of Australia
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- SMC Global Power, Philippines
- Eastern Coal Council - USA
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- Ministry of Finance - Indonesia
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- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
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- Economic Council, Georgia
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- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
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- White Energy Company Limited
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
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- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
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- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
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- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
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- TeaM Sual Corporation - Philippines
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- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Price Waterhouse Coopers - Russia
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- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
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- Global Business Power Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
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- Pendopo Energi Batubara - Indonesia
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- Wilmar Investment Holdings
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- Chamber of Mines of South Africa
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- Petrochimia International Co. Ltd.- Taiwan
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- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
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- Central Java Power - Indonesia
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- Merrill Lynch Commodities Europe
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- Goldman Sachs - Singapore
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- Energy Link Ltd, New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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