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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, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
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