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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
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