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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, 18 August 14
CFR SOUTH CHINA COAL SWAP PERFORMED WELL THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.45 (+0.66%) day on day and US$ 0.30 (+0.44%)&nbs ...
Saturday, 16 August 14
HIGH DEMAND OF IRON ORE SHIPMENTS PUSHED CAPE INDEX UPWARDS
COALspot.com: This week's freight market was buoyant with Cape and panamax index seeing a big jump pushing the BDI above 1,000 points week on c ...
Friday, 15 August 14
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
5TH ANNUAL POWER AND ELECTRICITY INDONESIA
13-16 October 2014
Grand Hyatt Jakarta, Indonesia
Web Site
The country’s definitive ...
Thursday, 14 August 14
U.S. STEAM COAL IMPORTS REMAIN DOWN SHARPLY FROM HISTORIC HIGH IN 2007, SAYS EIA
COALspot.com: U.S. steam coal imports at power plants have fallen significantly from their peak level of more than 30 million tons in 2007 to less ...
Thursday, 14 August 14
INDIA'S PLAN TO START AN INFRASTRUCTURE BOOM AND TO INVEST US$ 1 TRILLION BY 2017 WILL SURELY AFFECT THE DRY BULK TRADE - FEARNLEYS
Handy
The Atlantic Supra market has continued its improving sentiment with rates climbing and TA´s are now up about US$ 900 w-o-w, said Fea ...
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- Ceylon Electricity Board - Sri Lanka
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- Wood Mackenzie - Singapore
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- Parry Sugars Refinery, India
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- Singapore Mercantile Exchange
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- Africa Commodities Group - South Africa
- Planning Commission, India
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- Metalloyd Limited - United Kingdom
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- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
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- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
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- Romanian Commodities Exchange
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- Samtan Co., Ltd - South Korea
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- Commonwealth Bank - Australia
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- PowerSource Philippines DevCo
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- India Bulls Power Limited - India
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- Parliament of New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
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- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
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- Toyota Tsusho Corporation, Japan
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- Indian Energy Exchange, India
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- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
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- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
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- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
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- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
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- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
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- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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