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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, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
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Showing 4651 to 4655 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- VISA Power Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
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