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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- Metalloyd Limited - United Kingdom
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- Australian Coal Association
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- Directorate General of MIneral and Coal - Indonesia
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- Cigading International Bulk Terminal - Indonesia
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- The University of Queensland
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- Kaltim Prima Coal - Indonesia
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- Ministry of Transport, Egypt
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- Global Green Power PLC Corporation, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Economic Council, Georgia
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- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
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- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
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- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
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- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
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- Coal and Oil Company - UAE
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