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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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Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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Showing 1906 to 1910 news of total 6871 |
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- Interocean Group of Companies - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
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- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
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- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
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- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
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- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Planning Commission, India
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- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
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- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
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