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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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Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Planning Commission, India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- VISA Power Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
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