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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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