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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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Showing 101 to 105 news of total 6871 |
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- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
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