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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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Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- Deloitte Consulting - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
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