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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, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
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- Pendopo Energi Batubara - Indonesia
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- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
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- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
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- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
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- Ambuja Cements Ltd - India
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- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
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- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
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- CNBM International Corporation - China
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- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
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