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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
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Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Economic Council, Georgia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
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