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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, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
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- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- MS Steel International - UAE
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
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