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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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Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
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- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
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- Minerals Council of Australia
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- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
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- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
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- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
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- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
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- CIMB Investment Bank - Malaysia
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- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Bhoruka Overseas - Indonesia
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- Eastern Coal Council - USA
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- Maharashtra Electricity Regulatory Commission - India
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- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
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