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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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Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
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- Global Business Power Corporation, Philippines
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- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
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- Videocon Industries ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
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- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
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- Commonwealth Bank - Australia
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- Independent Power Producers Association of India
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- London Commodity Brokers - England
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- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
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- Standard Chartered Bank - UAE
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- Pipit Mutiara Jaya. PT, Indonesia
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- Kumho Petrochemical, South Korea
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- Bangladesh Power Developement Board
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- Meenaskhi Energy Private Limited - India
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- CIMB Investment Bank - Malaysia
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- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
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- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
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- Mjunction Services Limited - India
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- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
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