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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, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
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