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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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Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
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