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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, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
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