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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
|
|
|
Showing 81 to 85 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- White Energy Company Limited
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
|
| |
| |
|
