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