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