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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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Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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Showing 4946 to 4950 news of total 6871 |
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- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
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