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