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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, 16 November 11
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Monday, 14 November 11
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Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
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- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
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- Global Business Power Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
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- ICICI Bank Limited - India
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- MS Steel International - UAE
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- Bahari Cakrawala Sebuku - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Coalindo Energy - Indonesia
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- TeaM Sual Corporation - Philippines
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- Trasteel International SA, Italy
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- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
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- London Commodity Brokers - England
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- Petrochimia International Co. Ltd.- Taiwan
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- Ministry of Finance - Indonesia
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- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
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- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
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- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
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- Semirara Mining and Power Corporation, Philippines
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- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
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- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
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- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
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- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
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- Thai Mozambique Logistica
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- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
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- Mercator Lines Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
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- Indika Energy - Indonesia
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- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
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- Xindia Steels Limited - India
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- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
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- Electricity Authority, New Zealand
- Agrawal Coal Company - India
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