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