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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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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
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- Toyota Tsusho Corporation, Japan
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- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
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- Interocean Group of Companies - India
- London Commodity Brokers - England
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- Bayan Resources Tbk. - Indonesia
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- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
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- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
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- Global Business Power Corporation, Philippines
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- Indian Oil Corporation Limited
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- Aboitiz Power Corporation - Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
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- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
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- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
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- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- The University of Queensland
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- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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- Parliament of New Zealand
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- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
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- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
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- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
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- Independent Power Producers Association of India
- Planning Commission, India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Central Electricity Authority - India
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- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
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- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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- Sakthi Sugars Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
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- International Coal Ventures Pvt Ltd - India
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