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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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Friday, 05 July 13
THE DRY BULK MARKET IS GOING FROM STRENGTH TO STRENGTH - INTERMODAL
The Capesize sector has been one that has gone through a wild rollercoaster of emotions this past decade, ranging from the exuberance witnessed duri ...
Thursday, 04 July 13
CHALLENGER SIGNS FORMAL EXCLUSIVE MINING AND MARKETING AGREEMENT FOR ABBR PROJECT IN CENTRAL KALIMANTAN
COALspot.com - Challenger Deep Resources Corp., through its subsidiary PT Bestindo Energy has signed the formal exclusive Mining and Marketing agree ...
Thursday, 04 July 13
ASX LISTED QBL TO ACQUIRE INTERESTS IN MOZAMBIQUE COAL EXPLORATION LICENSES
- QBL to acquire interests in two Mozambique exploration licences prospective for coal
- Licenses located in the highly prospective Zambezi basin, ...
Thursday, 04 July 13
HANDY : INDO/CHINA, CHARTERERS RATING AROUND US$ 10,000 - FEARNLEYS AS
Handy
The Feast market firmed slightly up as mid-July cargos entered the market, but charterers seems not in hurry to cover them and looking for ch ...
Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
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- Petron Corporation, Philippines
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- IHS Mccloskey Coal Group - USA
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- Cement Manufacturers Association - India
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- White Energy Company Limited
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- Ministry of Finance - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
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- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
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- Sarangani Energy Corporation, Philippines
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- Economic Council, Georgia
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- Power Finance Corporation Ltd., India
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- Singapore Mercantile Exchange
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- Indian Oil Corporation Limited
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- Ministry of Transport, Egypt
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- Attock Cement Pakistan Limited
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
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- Simpson Spence & Young - Indonesia
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- Eastern Coal Council - USA
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- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
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- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
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- Cigading International Bulk Terminal - Indonesia
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- Independent Power Producers Association of India
- Mjunction Services Limited - India
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- Port Waratah Coal Services - Australia
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