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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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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
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