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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- PTC India Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
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