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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, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Parliament of New Zealand
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
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