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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, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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Showing 4836 to 4840 news of total 6871 |
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- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PTC India Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- The University of Queensland
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
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