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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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Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
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- San Jose City I Power Corp, Philippines
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- Price Waterhouse Coopers - Russia
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- IEA Clean Coal Centre - UK
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- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
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- International Coal Ventures Pvt Ltd - India
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- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
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- Independent Power Producers Association of India
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- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
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- Planning Commission, India
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- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- SN Aboitiz Power Inc, Philippines
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- India Bulls Power Limited - India
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- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
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- Standard Chartered Bank - UAE
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- Economic Council, Georgia
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- Carbofer General Trading SA - India
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- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
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- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
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- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
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- White Energy Company Limited
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
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- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
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- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
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- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
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- Posco Energy - South Korea
- Coalindo Energy - Indonesia
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