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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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Showing 61 to 65 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
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