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Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
 KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans".
The brief facts were that one OW entity had contracted to supply a vessel with bunkers but the actual physical supply had been sub-contracted to a Rosneft entity. The contract between Rosneft and OW gave OW 30 day credit terms and included a retention of title clause ("ROT"), i.e. a clause which said that title in the bunkers would stay with Rosneft until payment was received from OW.
OW entered liquidation and did not pay Rosneft even though the bunkers had been supplied to the vessel which proceeded to burn them. As it was concerned about having to pay twice, the vessel sought a declaration that it did not have to pay OW.
A key question the Supreme Court considered was whether a bunker supply contract on credit terms was a contract for the sale of goods pursuant to the Sale of Goods Act 1979.
The Court ruled that it was not a sale of goods. Instead the Court found that it was a unique agreement pursuant to which the purchaser bought the right to consume the bunkers prior to payment.
Practically, this meant that the ROT was meaningless and OW, as contractual supplier to the vessel, was entitled to receive payment for the bunkers.
The Supreme Court's decision came as a surprise to most in the industry who had thought that they were selling goods when they "sold" bunkers. It remains to be seen whether other goods which are sold on the understanding that they will be consumed, on-sold or manufactured prior to payment will not be a sale of goods.
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
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