We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
|
|
|
Showing 3456 to 3460 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Australian Coal Association
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
|
| |
| |
|
