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.
|
|
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
|
|
|
Showing 51 to 55 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
|
| |
| |
|
