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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
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- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
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- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
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- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
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