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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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Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
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- SMG Consultants - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
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- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Interocean Group of Companies - India
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- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
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- Energy Link Ltd, New Zealand
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- Posco Energy - South Korea
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- Directorate General of MIneral and Coal - Indonesia
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- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- White Energy Company Limited
- Parliament of New Zealand
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- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
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