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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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Showing 56 to 60 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- PTC India Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- White Energy Company Limited
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