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