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Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
 KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Pacific Pte Ltd v Ocean Tankers Pte Ltd.
The Judgment serves as a reminder to Owners to ensure that, if they have a claim for demurrage (no matter how it arises under the charter), as opposed to a claim for which any delay is compensated at the demurrage rate, they comply with any time bars in relation to demurrage claims.
The Claim
The question before the Court was whether a claim categorised as one for delay waiting for orders, was in fact a demurrage claim.
The clause under which the claim was brought provided:
Litasco Clause 4 – Waiting for Orders Clause
If Charterers require vessel to interrupt her voyage awaiting at anchorage further orders, such delay to be for Charterers’ account and shall count as laytime or demurrage, if vessel on demurrage. Drifting clause shall apply if the ship drifts.
Under Litasco Clause 2, claims for demurrage had to be presented to Charterers in writing within 90 days of completion of discharge. The clause included a list of supporting documents which were to be provided whenever possible.
Tribunal Decision
The Tribunal had already decided that the majority of the Owners’ claims for demurrage were time barred, but they treated the claim arising under Litasco Clause 4 as falling outside the scope of the time bar defence.
Judgment
The Judgment includes a discussion of the principles that Courts must adopt in relation to the construction of commercial documents. It distinguishes between clauses referring to time counting “… as laytime or demurrage, if vessel on demurrage”, and those, such as the BIMCO ISPS Clause and the Interim Port Clause in the Fixture Recap in this case, which referred to “any delay caused by such failure shall be compensated at the demurrage rate” and “…Charterers to pay for additional interim port at cost with additional steaming time, at demurrage rate“.
A distinction was therefore made between claims which are, in fact, demurrage claims, and those where the quantification of loss is at the demurrage rate. The decision emphasises that where different wording is used, it is to be “inferred that the parties have taken care with the language used”, and “the presumption [is] that where parties have used different language in different parts of their contract they intend to achieve a different effect”.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Source: Reed Smith
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Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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Showing 1796 to 1800 news of total 6871 |
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- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Planning Commission, India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
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