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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, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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Showing 3071 to 3075 news of total 6871 |
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- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
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