We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
 KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable to reimburse the shipowner for 3 and a half years of storage charges, the cost of which exceeded the value of the cargo.
The claim was brought by Sang Stone, which was both the shipper and the bill of lading holder to whom delivery was to be made, for conversion in relation to 35,000 MT of iron ore, carried from Bandar Abbas (Iran) to Tianjin (China), on board the defendant shipowner’s vessel, the “Bao Yue”.
A dispute arose between Sang Stone, as seller of the iron ore under the FOB sale and purchase contract, and its buyer. As a result Sang Stone withheld the original bill of lading.
The bill of lading had no named consignee, but incorporated the terms of the voyage charter which provided for discharge into a custom bonded warehouse against a letter of indemnity in the event that the original bill of lading was not presented. The charterparty also stipulated that the cost of warehousing the cargo would be for the charterers’ account.
On arrival of the cargo at Tianjin, the original bill of lading was not present so the master discharged the cargo into custom bonded warehouses, via an agent. The agent was then to release the cargo against receipt of the original bill of lading.
However, the cargo was never collected and after 3 years the storage charges exceeded its value. The warehouse owner exercised a lien and refused to release the cargo before payment.
While Sang Stone accepted that the shipowner had been entitled to place the cargo in storage, Sang Stone claimed that the defendant shipowner had converted the cargo on the basis that:
1.”the defendant was not entitled… to arrange for storage of the cargo in a way which gave rise to a lien in favour of the warehouse owner…”; and
2.the conduct of the warehouse and agent amounted to denying the holder of the bill of lading access to the cargo.
The shipowner denied the claims brought by Sang Stone, and counterclaimed for the storage charges.
There is an established principle that where a cargo owner fails to claim delivery of a cargo within a reasonable time, the shipowner is entitled to discharge and store the goods at the cargo owners’ cost. While it was acknowledged by the Court that conversion could occur in circumstances where a lien was created over the goods without authority of the cargo owner, the creation of the lien was, in the circumstances, a “reasonable and foreseeable incident of the storage contract which the defendant was authorised to conclude”. This was particularly the case where a charterparty incorporated into the bill of lading express terms that the cargo could be discharged into storage, which was the position here.
Whilst conversion may be applicable in instances where there is denial of access to goods such that the cargo owner is denied possession of them, the Court found that the Sang Stone’s claim fell far short of any deliberate encroachment of rights by the shipowner. Sang Stone had in fact never presented the bill of lading, and therefore the statements of the agent and warehouse operator had never been tested. Moreover, Sang Stone had not been deprived of the use and possession of the goods: the cargo was available on presentation of the original bills of lading and payment of the charges.
The claim for conversion failed and Sang Stone was liable for the storage charges exceeding the value of the cargo. The Court ordered Sang Stone to deliver the original bills of lading to the shipowner, to allow the cargo to be sold.
Source: Clyde & Co LLP
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
|
|
|
Showing 2581 to 2585 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Planning Commission, India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- White Energy Company Limited
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
|
| |
| |
|
