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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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Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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Showing 2811 to 2815 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
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- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
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- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
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