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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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Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
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