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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, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- The University of Queensland
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
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