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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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- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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