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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- The University of Queensland
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
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