We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
 KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or any other place for more than 28 days and therefore vessel’s speed, due to bottom fouling which may have formed to the ship’s hull as a direct result of such prolonged stay, is reduced and/or consumption increased. In case of need for underwater cleaning same to be for Charterer’s account in terms of time and expenses.”
Under the first charter, Owners contended that as a result of the high temperature of the sea water at the loadport, where the vessel had stayed for 48 days, the hull, propeller and rudder were fouled. An underwater inspection at the discharge port confirmed this. Owners informed Charterers that the fouling was due to the vessel’s prolonged stay at the loadport, for which Charterers should be held responsible.
Subsequently, the second charter was concluded in substantially the same terms as the first. No underwater cleaning was carried out between redelivery under the first charter and simultaneous redelivery into the second charter.
Owners claimed a balance of hire under both charters, plus sums in lieu of hold cleaning on redelivery under each charter and stevedore damage incurred during discharge under the second charter. Charterers argued that they were entitled to make deductions under both charters for under-performance and overconsumption.
The Tribunal found that bottom fouling did occur during the prolonged stay at the loadport under the first charter, and that this affected the vessel’s speed and consumption. This was supported by the fact that the vessel performed in accordance with the charter warranties on her voyage to that loadport. Under clause 128(1), Owners had no responsibility for the vessel’s failure to make her speed and consumption warranties, and so Charterers’ underperformance claim in respect of the first voyage failed.
As regards the second charter, Owners argued that Charterers had taken the vessel in direct continuation of the first charter, and thereby did not allow the hull to be cleaned after the vessel’s prolonged stay at the first loadport. Owners submitted that Charterers were estopped by their actions from claiming under-performance in respect of the second voyage.
The Tribunal rejected this argument. Owners were aware of the likelihood of hull fouling when the second charter was concluded, and had already written to Charterers in protest. Despite this, they fixed the vessel on identical terms. Owners therefore took the risk that the vessel may not be able to make her speed and performance warranties due to the hull fouling which occurred under the first charter. There was nothing in Charterers’ conduct to found an estoppel. They agreed the fixture on terms acceptable to Owners and took delivery of the vessel. Owners had to stand by the warranties they had given, and pay damages for any proven breach.
Charterers’ claim for under-performance under the second charter therefore succeeded, although the Tribunal reduced the amount to be deducted to take into account commission. Only part of the deduction for overconsumption was allowed, as some of the deductions made by Charterers in respect of the second voyage in fact related to underperformance and overconsumption the first voyage. Those claims failed for the same reason as the claims under the first charter.
Source: Reed Smith
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
Tuesday, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
|
|
|
Showing 3346 to 3350 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
|
| |
| |
|
