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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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Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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Showing 3586 to 3590 news of total 6871 |
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- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- VISA Power Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
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