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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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Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
Monday, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
COALspot.com: Despite Greece crisis and turmoil in the stock market across the world , the freight market overall was firm and up in all segments t ...
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Showing 2926 to 2930 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
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- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
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- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- PTC India Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
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