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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
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