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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, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
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- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- The University of Queensland
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
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