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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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Sunday, 03 November 13
H2' 2014 INDONESIAN COAL PRICE ( SWAPS) SHOWS POSITIVE TREND
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’2014 delivery gained 0.24 percept week on week on Friday 1 ...
Sunday, 03 November 13
THE CAPE SIZE INDEX FELL 13.61 PCT W-W
COALspot.com: The freight market continued to soften on the cape and panamax sectors , however the supramax and handy size remained fairly firm.
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Saturday, 02 November 13
DRY BULK SHIPPERS AREN'T CELEBRATING, BUT THEIR SILENCE IS GOLDEN - MARKET REALIST
In October, performance for major dry bulk shipping companies was mixed. Companies like DryShips Inc. (DRYS) had pulled back more than Diana Shippin ...
Friday, 01 November 13
US'S COAL PRODUCTION UP 0.9 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
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- Salva Resources Pvt Ltd - India
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- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
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- Metalloyd Limited - United Kingdom
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- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
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- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
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- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Australian Coal Association
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- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
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- Bangladesh Power Developement Board
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- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
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- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
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