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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
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