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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, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- White Energy Company Limited
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
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