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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
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