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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, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
Friday, 15 November 13
US COAL PRODUCTION UP 2.59% WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.8 million short tons (mmst) of coal in ...
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- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
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- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- The University of Queensland
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
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- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
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- Neyveli Lignite Corporation Ltd, - India
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