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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
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