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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, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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Showing 2851 to 2855 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
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