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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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Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
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- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Australian Coal Association
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
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