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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, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
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