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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, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
Tuesday, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
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Showing 1976 to 1980 news of total 6871 |
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- IEA Clean Coal Centre - UK
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- Parliament of New Zealand
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- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
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- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
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- Indian Oil Corporation Limited
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- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Bulk Trading Sa - Switzerland
- White Energy Company Limited
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- Singapore Mercantile Exchange
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- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
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- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
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- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
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- Indika Energy - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- The Treasury - Australian Government
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- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
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- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
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- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
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- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
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- Mjunction Services Limited - India
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- Electricity Generating Authority of Thailand
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- The University of Queensland
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- Trasteel International SA, Italy
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- ASAPP Information Group - India
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- Orica Australia Pty. Ltd.
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- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
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- Bukit Baiduri Energy - Indonesia
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- Asmin Koalindo Tuhup - Indonesia
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- Thiess Contractors Indonesia
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- New Zealand Coal & Carbon
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