We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
 KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was the subject of a chain of three charterparties. The head and sub-charter provided for London Arbitration (two arbitrators unless a sole could be agreed), and the LMAA Small Claims Procedure for claims under US$100,000. The sub-sub-charter provided for Singapore Arbitration.
Owners’ P&I Club provided an LOU to the Claimants as security for their claims. The LOU provided for London Arbitration before a three-man Tribunal, stating in part: “we confirm that the Ship Owners agree that the above mentioned claims shall be subject to London Arbitration … and English Law to apply … and for each party to nominate its own arbitrator and the two so appointed may appoint a third”.
The Claimants commenced arbitration under the terms of the LOU, and Owners challenged the Tribunal’s jurisdiction. Owners argued that the arbitration clause in the head charter was incorporated into the bills of lading and that this remained intact, despite the provisions of the LOU. This included the use of the Small Claims Procedure. Owners said that the appointed Tribunal had no jurisdiction over claims which would inevitably be less than US$100,000.
The Court held that the arbitration provision in the LOU replaced the charterparty arbitration clauses. The Claimants had validly commenced arbitration and the Tribunal as appointed had jurisdiction.
The key question was whether the parties had intended the provisions of the LOU to replace the original arbitration provisions wholesale, or merely to vary them in limited respects but leaving them in force. The arbitration clause in the LOU was comprehensive and able to operate as a free standing agreement. Further, there was no reason in principle why the terms of the LOU should not operate as a complete replacement.
The Court identified “compelling reasons” supporting the parties’ intention that this should be the outcome. A particular focus was placed on certainty. Having an arbitration agreement located partly in an LOU and partly in a charterparty would be a “recipe for confusion”, especially where, as here, there was scope for disagreement as to which of the charterparty arbitration clauses would apply. The possibility of such disagreement was removed by the LOU.
This case highlights the importance of considering carefully whether the provisions of any binding documents, such as LOUs, will vary or even supersede the provisions of existing contracts. The court will consider all such documents in context, and in the light of common business sense. The parties’ intentions do not have to be explicitly set down in documents or correspondence for the court to make findings, in light of all the circumstances, as to what those intentions were.
Finally, it is interesting to note the Court’s comments, at the beginning of the judgment that it is difficult to see that the parties’ costs were well spent, where the amounts in dispute were modest and there was no dispute that the claims ought to be arbitrated. The Court noted that, in fact, Owners appeared to be seeking to knock out the claims on a technical point, because any new arbitration would be time barred, albeit it accepted that this was something which Owners were entitled to do.
Source: Reed Smith
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
|
|
|
Showing 46 to 50 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
|
| |
| |
|
