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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, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
Monday, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
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Showing 3026 to 3030 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
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