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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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Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
Wednesday, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
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Showing 2716 to 2720 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
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- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
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- Banpu Public Company Limited - Thailand
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- Bhushan Steel Limited - India
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- Goldman Sachs - Singapore
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- Toyota Tsusho Corporation, Japan
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- MS Steel International - UAE
- Indian Oil Corporation Limited
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- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
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- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
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- European Bulk Services B.V. - Netherlands
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- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
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- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
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- Ministry of Mines - Canada
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- PTC India Limited - India
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- SMC Global Power, Philippines
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- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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- Gujarat Mineral Development Corp Ltd - India
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- Australian Coal Association
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- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Wilmar Investment Holdings
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kideco Jaya Agung - Indonesia
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- Indonesian Coal Mining Association
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- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
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- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
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- Cement Manufacturers Association - India
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- Metalloyd Limited - United Kingdom
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- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
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- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
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- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
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- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
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- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
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- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
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- Africa Commodities Group - South Africa
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