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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- White Energy Company Limited
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
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