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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, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
Friday, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
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- Sree Jayajothi Cements Limited - India
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- Baramulti Group, Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
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- Thai Mozambique Logistica
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- Bhatia International Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
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- Australian Coal Association
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- McConnell Dowell - Australia
- Planning Commission, India
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- Global Business Power Corporation, Philippines
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- Sojitz Corporation - Japan
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- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
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- Ministry of Transport, Egypt
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- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
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- The State Trading Corporation of India Ltd
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- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
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- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
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- ASAPP Information Group - India
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- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Agrawal Coal Company - India
- Bangladesh Power Developement Board
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- Meralco Power Generation, Philippines
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- Indian Oil Corporation Limited
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- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
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- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
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- New Zealand Coal & Carbon
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- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
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- Karbindo Abesyapradhi - Indoneisa
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- Petron Corporation, Philippines
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- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
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- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
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- Singapore Mercantile Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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