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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, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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