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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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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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Showing 3821 to 3825 news of total 6871 |
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- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
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