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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, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
Tuesday, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
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- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Marubeni Corporation - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Australian Coal Association
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
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