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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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Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
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- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
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