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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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Showing 4586 to 4590 news of total 6871 |
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- Parry Sugars Refinery, India
- Planning Commission, India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
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