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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
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