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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, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
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- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
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- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
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- Meenaskhi Energy Private Limited - India
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- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
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- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
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- Global Business Power Corporation, Philippines
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- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
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- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- AsiaOL BioFuels Corp., Philippines
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- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
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- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
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- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
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- Sojitz Corporation - Japan
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- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
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- Medco Energi Mining Internasional
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- Standard Chartered Bank - UAE
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- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Planning Commission, India
- Carbofer General Trading SA - India
- Australian Coal Association
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
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- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
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