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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
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