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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, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
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Showing 3651 to 3655 news of total 6871 |
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- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
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