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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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Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
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