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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Sical Logistics Limited - India
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- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
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- The University of Queensland
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- Indonesian Coal Mining Association
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- TeaM Sual Corporation - Philippines
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- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
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- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
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- Ministry of Mines - Canada
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- Energy Link Ltd, New Zealand
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- Petron Corporation, Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
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- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
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- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
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- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Independent Power Producers Association of India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
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- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
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- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
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