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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
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