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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
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- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
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- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
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- Bhoruka Overseas - Indonesia
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- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
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- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
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- Indian Oil Corporation Limited
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- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
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- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
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- Heidelberg Cement - Germany
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- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
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- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
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- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
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- Videocon Industries ltd - India
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- Merrill Lynch Commodities Europe
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- Rio Tinto Coal - Australia
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