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Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
 KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans".
The brief facts were that one OW entity had contracted to supply a vessel with bunkers but the actual physical supply had been sub-contracted to a Rosneft entity. The contract between Rosneft and OW gave OW 30 day credit terms and included a retention of title clause ("ROT"), i.e. a clause which said that title in the bunkers would stay with Rosneft until payment was received from OW.
OW entered liquidation and did not pay Rosneft even though the bunkers had been supplied to the vessel which proceeded to burn them. As it was concerned about having to pay twice, the vessel sought a declaration that it did not have to pay OW.
A key question the Supreme Court considered was whether a bunker supply contract on credit terms was a contract for the sale of goods pursuant to the Sale of Goods Act 1979.
The Court ruled that it was not a sale of goods. Instead the Court found that it was a unique agreement pursuant to which the purchaser bought the right to consume the bunkers prior to payment.
Practically, this meant that the ROT was meaningless and OW, as contractual supplier to the vessel, was entitled to receive payment for the bunkers.
The Supreme Court's decision came as a surprise to most in the industry who had thought that they were selling goods when they "sold" bunkers. It remains to be seen whether other goods which are sold on the understanding that they will be consumed, on-sold or manufactured prior to payment will not be a sale of goods.
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Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
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- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
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