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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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- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Australian Coal Association
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- Central Java Power - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
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