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Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
 KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover additional expenses incurred in complying with charterers’ orders to stop loading operations.
The Facts
The vessel was voyage chartered for a voyage from the USA to Venezuela. Upon arrival at the load port, loading commenced. When charterers became aware of this they ordered the loading to stop. Loading did not then recommence until four days later. Owners claimed from charterers the additional dockage, security and guards’ expenses incurred as a result of the four day interruption to loading.
The Load Port Expenses
In respect of the additional load port expenses, the Tribunal held that the allocation of such expenses would usually fall to owners under the charterparty terms. This was because the charterers were entitled to use the laytime as they wished and so it followed that the associated expenses had to lie where they fell, i.e. with the owners. However, the Tribunal accepted evidence from the owners that an oral agreement had been reached between the owners and the charterers that charterers had agreed to pay the owners’ invoice in full, which included the additional port expenses. It was, therefore, as a result of this additional oral agreement that the Tribunal ordered the charterers to pay the additional port expenses to the owners. Without this oral agreement, which changed the terms of the charterparty, the owners would not have received any compensation for the additional load port expenses incurred as a result of the four day delay.
A Reminder
It is worth reminding owners that charterers do have an absolute right to use the given laytime as they see fit. There is no duty on them to load or discharge faster than the given laytime. Therefore, if a charterer orders the vessel to stop cargo operations when laytime is running, the port expenses incurred during the stop will usually be for owners. This is unless a specific clause (or additional oral or written agreement on this point) can be agreed between the owners and the charterers to the contrary.
Source: North of England P&I Club
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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
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