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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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Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
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Showing 1811 to 1815 news of total 6871 |
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- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
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- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
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- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
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- Ministry of Mines - Canada
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
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- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
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- Petron Corporation, Philippines
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