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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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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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Showing 4786 to 4790 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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