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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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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
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