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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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Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
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- Parry Sugars Refinery, India
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- White Energy Company Limited
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- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
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- VISA Power Limited - India
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- Renaissance Capital - South Africa
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- Ministry of Mines - Canada
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- The University of Queensland
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- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
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- Medco Energi Mining Internasional
- Australian Coal Association
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- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
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- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
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- Ind-Barath Power Infra Limited - India
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- Samtan Co., Ltd - South Korea
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- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Vedanta Resources Plc - India
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- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- Semirara Mining Corp, Philippines
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- South Luzon Thermal Energy Corporation
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- Africa Commodities Group - South Africa
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- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
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- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
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- Tamil Nadu electricity Board
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- SMC Global Power, Philippines
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- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
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- Heidelberg Cement - Germany
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- Electricity Authority, New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Commonwealth Bank - Australia
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- Planning Commission, India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
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- Banpu Public Company Limited - Thailand
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- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
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- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
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- Jaiprakash Power Ventures ltd
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