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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
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Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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Showing 3366 to 3370 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
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- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
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- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
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- White Energy Company Limited
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- Chamber of Mines of South Africa
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bhushan Steel Limited - India
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- Independent Power Producers Association of India
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- Indian Energy Exchange, India
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- The State Trading Corporation of India Ltd
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- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
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- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
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- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
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- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
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- Semirara Mining Corp, Philippines
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- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
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- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
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- Indika Energy - Indonesia
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- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
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- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
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