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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, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
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Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Australian Coal Association
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
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