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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, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
Tuesday, 01 September 15
FOB INDONESIA COAL SWAPS FURTHER SLIDE TO US$ 40.62 PMT; DECLINE 5.34 PERCENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and slightly dropped week over week.
The 4Q swap was declined ...
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- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
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- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Mjunction Services Limited - India
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- Price Waterhouse Coopers - Russia
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- Trasteel International SA, Italy
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- Antam Resourcindo - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
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- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
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- Parliament of New Zealand
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- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
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- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
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- White Energy Company Limited
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- Tamil Nadu electricity Board
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- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
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- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
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- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
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- CIMB Investment Bank - Malaysia
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- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
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- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
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- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Merrill Lynch Commodities Europe
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- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
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- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
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- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Petron Corporation, Philippines
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