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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, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
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- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
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- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Energy Development Corp, Philippines
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- SMG Consultants - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
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