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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Therma Luzon, Inc, Philippines
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- Commonwealth Bank - Australia
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- Planning Commission, India
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- Kohat Cement Company Ltd. - Pakistan
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- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
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- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
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- Toyota Tsusho Corporation, Japan
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- Goldman Sachs - Singapore
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- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
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- Minerals Council of Australia
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- Petrochimia International Co. Ltd.- Taiwan
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- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Central Electricity Authority - India
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- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
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- Tamil Nadu electricity Board
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- Tata Chemicals Ltd - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
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- Carbofer General Trading SA - India
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- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- MS Steel International - UAE
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- Price Waterhouse Coopers - Russia
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- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
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- SMC Global Power, Philippines
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- The University of Queensland
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- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
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- Binh Thuan Hamico - Vietnam
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