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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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Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
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- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Australian Coal Association
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
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