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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, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
Wednesday, 15 January 14
CFR SOUTH CHINA COAL SWAPS FALL BY 6.57% MONTH ON MONTH
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 6.57 percept month on month and closed at US$ 78.90 per mt as ...
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- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Minerals Council of Australia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
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