What am I looking at?

Each purchase contract in full: what we agreed to buy, at what price and quality, how laytime is counted, and how it is paid for. The risk panel at the top reads the clauses on their own terms and flags the ones that can cost money if the voyage goes badly — uncapped demurrage above all.

Quantity tolerance: The band either side of the contract quantity that the seller may ship at their option, shown as an actual tonnage range.
Laytime terms: The discharge rate, what counts as laytime, and the daily demurrage rate. These are the inputs to every laytime calculation on that contract's cargoes.
Risk flags: Clauses read straight from the contract. Nothing here depends on how any particular shipment went.

Read the full guide for this screen · written for Commercial

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CTR-SM-2026-039

shippedCFR

Low Ash Metallurgical Coke bought from Jiangsu Hengrui Resources Co. Ltd for discharge at Haldia Dock Complex. Signed 28 Mar 2026.

Contract risk

Clauses that can cost us money if the voyage goes badly. Read from the contract terms alone — nothing here depends on how this shipment actually went.

Demurrage is uncapped
critical
There is no ceiling on the daily demurrage rate. A long weather delay at the anchorage has no upper bound on this contract.
Charter party is not disclosed
warning
Under CFR the seller charters the vessel and we never see the charter party. Laytime exceptions are argued from the Statement of Facts alone, with no head-charter wording to fall back on.
Lighterage time counts as laytime
warning
Waiting for barges at the anchorage runs against our allowance, even though barge supply is a port constraint rather than our delay.
We place the marine insurance
info
Under CFR the seller arranges carriage but the cover is ours. Check the policy attaches from load port rail, not from discharge.

Commercial terms

Seller

Jiangsu Hengrui Resources Co. Ltd

Commodity

Low Ash Metallurgical Coke

Discharge port

Haldia Dock Complex

Base price

$342.00 / MT dry basis

Contract quantity

45,000.000 MT

accepted band 42,750.000 MT – 47,250.000 MT

Laycan

14 May 2026 – 24 May 2026

the window in which the vessel must present

Who carries what under CFR

Ocean freight

seller

Marine insurance

Load port demurrage

seller

Discharge demurrage

Risk passes

at load port

Quality specification

Typical is what the seller declares. Cargo outside the maximum or minimum is repriced by the adjustment rules below.

Parameter	Typical	Maximum	Minimum
Ash ASH	12.00 %	12.50 %	—
Moisture MOISTURE	4.60 %	5.00 %	—
Fixed Carbon FC	86.50 %	—	86.00 %
Coke Strength after Reaction CSR	65.00 %	—	64.00 %

Price adjustment rules

ASH — deduct $2.50 per tonne for every 0.50 % beyond 12.50 %, pro rata. Cargo past 14.50 % may be rejected.

CSR — deduct $1.20 per tonne for every 1.00 % beyond 64.00 %, pro rata. Cargo past 58.00 % may be rejected.

Laytime and demurrage terms

Laytime is the free time we get to discharge. Run past it and Demurrage is payable for every day over.

Discharge rate

8,000 MT per day

Counted as

Weather working days, Sundays and holidays excepted

Turn time

6 hours

Notice of Readiness may be tendered

Whether in port or not

Demurrage rate

$18,000.00 per day

Despatch rate

$9,000.00 per day earned back if we finish early

Daily cap

uncapped

Rebuttal window

30 days to dispute a claim

Settlement window

60 days to settle it

lighterage time countsweather stoppages excludedfirst shifting excluded

Payment terms

Instrument

Letter of credit at sight

Provisional payment

90% on Bill of Lading date

Final payment

10% on Discharge port analysis certificate

Credit period

at sight

Parcels shipped against this contract

Parcel	B/L	B/L date	B/L quantity	Status
PCL-2026-0417	HDC/JTG/2026/0417	28 May 2026	45,000.000 MT	Discharged

45,000.000 MT shipped against 45,000.000 MT contracted.