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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
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
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Monday, 08 January 24
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Friday, 05 January 24
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Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
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