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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, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
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Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
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- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
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- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Goldman Sachs - Singapore
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- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
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