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Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
 KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was the subject of a chain of three charterparties. The head and sub-charter provided for London Arbitration (two arbitrators unless a sole could be agreed), and the LMAA Small Claims Procedure for claims under US$100,000. The sub-sub-charter provided for Singapore Arbitration.
Owners’ P&I Club provided an LOU to the Claimants as security for their claims. The LOU provided for London Arbitration before a three-man Tribunal, stating in part: “we confirm that the Ship Owners agree that the above mentioned claims shall be subject to London Arbitration … and English Law to apply … and for each party to nominate its own arbitrator and the two so appointed may appoint a third”.
The Claimants commenced arbitration under the terms of the LOU, and Owners challenged the Tribunal’s jurisdiction. Owners argued that the arbitration clause in the head charter was incorporated into the bills of lading and that this remained intact, despite the provisions of the LOU. This included the use of the Small Claims Procedure. Owners said that the appointed Tribunal had no jurisdiction over claims which would inevitably be less than US$100,000.
The Court held that the arbitration provision in the LOU replaced the charterparty arbitration clauses. The Claimants had validly commenced arbitration and the Tribunal as appointed had jurisdiction.
The key question was whether the parties had intended the provisions of the LOU to replace the original arbitration provisions wholesale, or merely to vary them in limited respects but leaving them in force. The arbitration clause in the LOU was comprehensive and able to operate as a free standing agreement. Further, there was no reason in principle why the terms of the LOU should not operate as a complete replacement.
The Court identified “compelling reasons” supporting the parties’ intention that this should be the outcome. A particular focus was placed on certainty. Having an arbitration agreement located partly in an LOU and partly in a charterparty would be a “recipe for confusion”, especially where, as here, there was scope for disagreement as to which of the charterparty arbitration clauses would apply. The possibility of such disagreement was removed by the LOU.
This case highlights the importance of considering carefully whether the provisions of any binding documents, such as LOUs, will vary or even supersede the provisions of existing contracts. The court will consider all such documents in context, and in the light of common business sense. The parties’ intentions do not have to be explicitly set down in documents or correspondence for the court to make findings, in light of all the circumstances, as to what those intentions were.
Finally, it is interesting to note the Court’s comments, at the beginning of the judgment that it is difficult to see that the parties’ costs were well spent, where the amounts in dispute were modest and there was no dispute that the claims ought to be arbitrated. The Court noted that, in fact, Owners appeared to be seeking to knock out the claims on a technical point, because any new arbitration would be time barred, albeit it accepted that this was something which Owners were entitled to do.
Source: Reed Smith
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Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
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