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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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- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
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