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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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Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- The University of Queensland
- Xindia Steels Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
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