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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
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