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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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Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
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- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
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- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
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- Coalindo Energy - Indonesia
- Planning Commission, India
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- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
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- San Jose City I Power Corp, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Cement Manufacturers Association - India
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- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
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- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
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- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
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- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
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- The University of Queensland
- Global Green Power PLC Corporation, Philippines
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- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
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- Eastern Energy - Thailand
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- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
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- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mintek Dendrill Indonesia
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- Orica Australia Pty. Ltd.
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- Bharathi Cement Corporation - India
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- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
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- Tamil Nadu electricity Board
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- SMG Consultants - Indonesia
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- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
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- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
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