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