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