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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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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
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- Eastern Energy - Thailand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
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- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
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- The University of Queensland
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- PowerSource Philippines DevCo
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- Latin American Coal - Colombia
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- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
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- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
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- Orica Mining Services - Indonesia
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- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
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- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Planning Commission, India
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- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
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- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
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- Price Waterhouse Coopers - Russia
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- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
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- Directorate Of Revenue Intelligence - India
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- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
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- Indika Energy - Indonesia
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- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
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- Gujarat Mineral Development Corp Ltd - India
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- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
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- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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