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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, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
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