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.
|
|
Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
|
|
|
Showing 3546 to 3550 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
