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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, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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Showing 2816 to 2820 news of total 6871 |
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- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
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