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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
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