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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
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