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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, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
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- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Australian Coal Association
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
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