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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
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