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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, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
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