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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
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