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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
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