You are a commodity trader and receive an order*for 40,000MT rice to be shipped to*Indonesia.*You charter a bulk carrier and ship the rice.*The ship arrives in Indonesia but there is a strike by harbor workers, so the ship has demurrage and waits at the port two weeks until the strike is settled.*During this time the rice in the ship’s hold expands bursting the hold covers.*You have steamed rice.*What happened to the rice and why? What lessons do we learn from this experience?
My summary: The rice was left out in the heat and it caused the rice to cook due to the demurrage. The demurrage is the time frame the ship was placed in waiting to deliver the rice. The party that has caused the demurrage should be responsible for any cost associated with the wait time.
What else is there to know about this question.
My summary: The rice was left out in the heat and it caused the rice to cook due to the demurrage. The demurrage is the time frame the ship was placed in waiting to deliver the rice. The party that has caused the demurrage should be responsible for any cost associated with the wait time.
What else is there to know about this question.