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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Coalindo Energy - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
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