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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, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Intertek Mineral Services - Indonesia
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- Goldman Sachs - Singapore
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- Trasteel International SA, Italy
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- Standard Chartered Bank - UAE
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- Kohat Cement Company Ltd. - Pakistan
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- Samtan Co., Ltd - South Korea
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- Ministry of Mines - Canada
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- Economic Council, Georgia
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- VISA Power Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- ASAPP Information Group - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Parry Sugars Refinery, India
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- Renaissance Capital - South Africa
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- Tamil Nadu electricity Board
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- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
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- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
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- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
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- ICICI Bank Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
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- Eastern Coal Council - USA
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- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
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- Videocon Industries ltd - India
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- Rashtriya Ispat Nigam Limited - India
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- Metalloyd Limited - United Kingdom
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- Wood Mackenzie - Singapore
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
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- India Bulls Power Limited - India
- The University of Queensland
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