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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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Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Indian Energy Exchange, India
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- Meralco Power Generation, Philippines
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- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
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- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
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- MS Steel International - UAE
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- Africa Commodities Group - South Africa
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- Planning Commission, India
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- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
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- London Commodity Brokers - England
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- Samtan Co., Ltd - South Korea
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- Minerals Council of Australia
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- Bangladesh Power Developement Board
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- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
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- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
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- Thiess Contractors Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
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- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
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- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
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- Wilmar Investment Holdings
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- Tamil Nadu electricity Board
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- Australian Coal Association
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- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- White Energy Company Limited
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