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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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Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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Showing 4811 to 4815 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
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