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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, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
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