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.
|
|
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
|
|
|
Showing 3466 to 3470 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
|
| |
| |
|
