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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, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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Showing 106 to 110 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Australian Coal Association
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
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