We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 11 August 14
SGX CFR SOUTH CHINA COAL SWAPS DIRECTION HEADING TO NORTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.50 (+0.74%) day on day and US$ 1.55 (+2.33%)&nbs ...
Monday, 11 August 14
A TALE OF TWO TRADES - EVA TZIMA
COALspot.com: It has without a doubt been “a cruel, cruel summer” for the Dry Bulk market so far and with second hand values still stan ...
Sunday, 10 August 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com: This week the BDI and other segments saw some improvements. The BDI increased by 3.46 pct week on week and closed at 777 points.
...
Friday, 08 August 14
MINING DISPUTE IS CRIPPLING LOCAL ECONOMIES IN EASTERN INDONESIA - JG
- By Iwan Harsono -
It seems as if there’s no end in sight to the series of negotiations between the government and mining companies about ...
Friday, 08 August 14
CAPESIZE RATES ARE REMAINING MORE OR LESS UNCHANGED AT BOTTOM LOW LEVELS - FEARNLEYS AS
Handy
An improving sentiment with stronger rates and fair demand for prompt tonnage in the Atlantic, both on the Continent and in the Med for the ...
|
|
|
Showing 3551 to 3555 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- The University of Queensland
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
|
| |
| |
|
