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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
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