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