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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
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- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
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- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
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- Power Finance Corporation Ltd., India
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- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
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- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
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- Indian Energy Exchange, India
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- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
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- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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- Wilmar Investment Holdings
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- Bahari Cakrawala Sebuku - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
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- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
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- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
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- Mintek Dendrill Indonesia
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- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
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