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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
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