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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, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
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- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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