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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, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Mjunction Services Limited - India
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- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
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- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
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- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
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- Indian Energy Exchange, India
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- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
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- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
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- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
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- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
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