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.
|
|
Tuesday, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
|
|
|
Showing 3396 to 3400 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Planning Commission, India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Wilmar Investment Holdings
- The University of Queensland
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
|
| |
| |
|
