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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, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- White Energy Company Limited
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
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