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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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Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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Showing 3511 to 3515 news of total 6871 |
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- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- White Energy Company Limited
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
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