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.
|
|
Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
|
|
|
Showing 3576 to 3580 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
|
| |
| |
|
