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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, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
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