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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
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COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
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Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
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- Minerals Council of Australia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
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