Petroleum Traders Corporation

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Vilma was founded in Madrid in by a group of experienced professionals in the International Oil Trading Sector. The company has grown continuously since inception, becoming an established and highly respected player in the Oil Industry. In order to diversify its line of business, in Vilma started a competitive physical bunker supply in the Strait of Gibraltar.

Recently Vilma is also involved petroleum traders the Terminal Business within the Strait of Petroleum traders with Vopak as a partner at the Algeciras port petroleum traders.

The relative small size of the organization allows for agility and flexibility in satisfying client needs in order to achieve tailor-made services for specific supply areas. We encourage and petroleum traders our employees to do continuous training programs in order to build the best career path possible to meet their prospects and motivations.

InVilma has internationally traded more than 4. This activity stream completes our petroleum traders business as LPG is a seasonal competitor in the petrochemical sector. As well allows us to optimize our bunker supply service in Ceuta. Furthermore we have the capability to produce any blending product to achieve our costumers' needs. Strategically located petroleum traders the Strait of Gibraltar, one of the worlds's busiest seaways petroleum traders overvessels transiting each year.

This exclusion is pursuant to article 6 of the said Convention. In the event of any discrepancy between the General Terms of Sale and the Specific Terms agreed by the parties, in each case, the latter shall prevail. These conditions apply to all offers, petroleum traders, orders, agreements, services and petroleum traders subsequent contracts of whatever petroleum traders, except where otherwise is expressly agreed in writing by Vilma Oil.

General petroleum traders conditions of another party will not apply, unless expressly accepted in writing by Vilma Oil. This "Supply Offer" shall be valid for the time limit specified in said offer. Petroleum traders no time limit is proven written by any reason stated, a standard of 1 hour from delivery of the email or equivalent shall be applicable. If the party requesting Bunkers is not the Owner of the Vessel, Buyer assumes the sole responsibility for communicating the terms and conditions of this Agreement to the Owner of the Vessel prior to the date of delivery.

Such control or supervision will petroleum traders subject to the specific approval stated in writing by "THE SELLER" with regard to the independent expert commissioned to conduct it. The expenses arising from supervision of measurement petroleum traders the bunker supply will, in all cases, be exclusively borne by and at the expense of "THE BUYER". Being the signature of the Bunker Delivery Notice the final and binding confirmation of the aforesaid quantity, quality and compatibility.

The Marine Fuels supplied hereunder shall be the Seller's commercial grades as determined in accordance with ISO The quality of the Marine Fuels shall be petroleum traders in accordance with Clause Petroleum traders below. Such commercial samples shall be the only authentic, conclusive and binding proof for the parties to determine the quality of the Marine Fuel supplied to the ship. The Ship's Master shall petroleum traders declare in writing in that document whether or not he intends to be present or represented at the moment of measuring petroleum traders quantity supplied and the sample taking.

The Marine Fuel shall be supplied to the ship at the location or port of supply. The supply shall be performed according petroleum traders the laws in force and applicable at the moment and in the location or port of supply and, especially, petroleum traders to the by-laws of the port or location of supply. That cancellation will entitle "THE SELLER" to refuse to provide the contractual supply, notwithstanding its right to be compensated by "THE BUYER" for all the expenses including judicial and lawyers' feesdamages and losses incurred directly or indirectly due petroleum traders, or arising from the delay prior to that cancellation.

Once the supply is completed and the measurement of the petroleum traders supplied performed and samples taken, "THE SELLER" shall present the ship a receipt that must be signed by the Ship's Master supplied, or the agent and it will bear the ship's seal, confirming satisfactory receipt of the Marine Fuel on board the ship.

These factors include without limitation any increased taxes, duties, the petroleum traders of any law, order, bye-law or other regulation, the occurrence of any currency fluctuation affecting the cost of imported items.

If the price term is quoted as "delivered", then in addition to the purchase price of the Marine Fuel, the price shall include only the cost of transportation. Dollars or the currency adopted by mutual agreement by the parties. The payment will always be made in the currency agreed by the parties. Delivery document may be provided to "THE BUYER" if requested but payment petroleum traders any event shall not be conditional upon buyer's receipt of such documents. All payments received from "THE BUYER" after an invoice is petroleum traders shall first be applied to interest, legal collection costs and administrative fees incurred before petroleum traders will applied to the principal amounts on a subsequent delivery.

Any waiver by Seller of interest charges or administrative fees on a particular invoice shall not be construed as a waiver by petroleum traders SELLER" of its rights to impose such charges on subsequent deliveries.

If the preceding and succeeding business days are equally near to the due date, then payment shall be made on or before petroleum traders preceding petroleum traders day. All payments from Buyer to Seller for Bunkers supplied under this Agreement are deemed to have been made in the ordinary petroleum traders of business between Seller and Buyer, according to these ordinary business terms agreed between them.

B Term for claims' documentation: Any claim of quantity or quality that has been notified within the term provided in said Clause 10 A must be completely documented within the twenty-one 21 days following the date of supply of the Marine Fuel. Claims over quantity that have not been made within the term and in the manner foreseen in Clause 10 Aor documented within the term foreseen in this clause, shall be considered finally expired and shall be considered not to have been made if received after the term unless "THE SELLER" expressly grants an extension of said twenty-one 21 day period to present the documentation.

When a documented claim is received within the term stated in this clause, both parties shall be obliged to extend the maximum term to keep the commercial sample provided in Clause 5 B above until the commercial sample or samples are analyzed.

The result of such analysis shall be conclusive and binding for both parties. The expenses incurred in performing such analysis shall be borne by petroleum traders party losing. Should such notice not be provided, any claim will be considered to have expired and will be considered not to have been lodged, unless "THE SELLER" expressly grants an extension of the term.

In the event that the Marine Petroleum traders have been commingled with other bunkers on board the vessel supplied, "THE SELLER" shall have the right of lien to such part of the commingled bunkers as corresponds to the quantity of the Marine Fuels delivered. The provisions in this section are without prejudice to such other rights as the Seller may have under the Spanish law against the Buyer or the Vessel in the event of nonpayment.

The liability for breach of any condition or conditions whatsoever shall be limited to the payment of damages. If the situation persists for more than one 1 month, the party not affected by the Force Majeure may decide to terminate this Agreement.

The Sellers are selling and the Buyers are purchasing the Marine Fuels as principals and not as agent, trustee or nominee of any person with whom petroleum traders are petroleum traders or restricted under sub-clause a ; iii. In the absence of any such orders, directions, laws or regulations, the Party not in breach may terminate this Contract forthwith.

A surveyor to determine said proportion would be appointed in case of parties' disagreement. The liquidation, winding up, bankruptcy, insolvency, dissolution, administration or re-organization, or similar, or.

The appointment of a receiver, liquidator, trustee, administrator, administrative petroleum traders or similar functionary of the other party or all or a substantial part of its assets otherwise than for the purpose of a reconstruction or amalgamation. In petroleum traders aforementioned event without prejudice or limitation to the generality of the foregoing, in case that the third party terms include:.

This Agreement shall petroleum traders governed and construed in accordance with Spanish law. All clauses shall be petroleum traders and complemented, where appropriate, by the precepts and principles of Spanish law that are petroleum traders relevant application to the case. Any dispute arising out of or relating to this contract, including any matter regarding its existence, validity or termination, shall be definitively settled by arbitration in law, administered by the Court of Arbitration of the Official Chamber of Commerce and Industry of Madrid, in accordance with its Arbitration Rules in force at the time the request for arbitration is filed.

The arbitral tribunal appointed for such purpose will be formed by one arbitrator. The language to be used in the arbitration will be Spanish. The place of arbitration will be Madrid, Spain.

In all matters requiring judicial formalization of the arbitration, execution of the arbitration finding or injunctive measures that are not the direct competence of the Arbitration Court, the parties agree the jurisdiction and competence of the Courts of Madrid. The complexities of cross border cargoes petroleum traders road, petroleum traders and ship, along with the associated customs formalities, quantity and petroleum traders control are supervised by our experienced team.

Our risk management team has petroleum traders high petroleum traders of expertise petroleum traders the use of financial derivatives futures, options, swaps, etc in order to minimize the risks associated to currencies, logistics and product prices. The particular characteristics of each commercial transaction, along with the different requirements of our suppliers and customers, are analyzed by petroleum traders risk management team and as a petroleum traders customized hedging solutions are successfully implemented.

Since Vilma has exclusive use of 83, m3 storage terminal at the Port of Ceuta and is developing as well its own terminal project nearby. This terminal is being built in an area of approximately 60, m2 with the aim of supplying bunker at the Port of Algeciras, as well serving as a hub.

The First Phase of construction, with am3 capacity, is already petroleum traders stream since Petroleum traders Additionally the weather conditions and highly skilled labour force make the port one of the most reliable and free of interruptions.

At the moment Vilma Oil has 11 tanks of storage Plans for the development of a new terminal are underway. The Port of Algeciras Bay is Spain's number leading port in terms of volume and port activity with 4. It's the first semi-automatic terminal in the Mediterranean area and with further capacity expansion already planned in a second phase.

Moving energy is our core business, the skill of meeting balance between logistics and risk. A service based on technical expertise, local knowledge and responsiveness. We have developed a first class bunkering service based on quality and time efficiency.

With our time-chartered bunker vessel we also supply vessels at the anchorage area of Ceuta. I The quality shall be final and binding for all parties save for fraud or manifest petroleum traders. Prior to the delivery, the Master of the ship to be supplied will confirm the quantity and description of the Marine Fuel, signing and stamping with the Ship Owner's seal or seal of the ship the document called "Bunker Supply Agreement", that will be delivered to him by "THE SELLER" The Ship's Master shall also declare in writing in that document whether or not he intends to be present or represented at the moment of measuring the quantity supplied and the sample taking.

In any case, passenger ships have absolute priority petroleum traders be supplied. The liquidation, winding up, bankruptcy, insolvency, dissolution, administration or re-organization, or similar, or ii. In the aforementioned event without petroleum traders or limitation to the generality of the foregoing, in case that the third party terms include: The arbitration finding handed down will be final and binding upon both parties.

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These intra-court appeals impugn the identical but separate orders, both dated 16th April, of dismissal of W. Both the appellants claim to be an association of petroleum traders of the State of Uttar Pradesh and Haryana respectively, affiliated to the Consortium of Indian Petroleum Dealers. They filed the writ petitions from which these appeals arise, averring:.

The learned Single Judge dismissed the writ petitions accepting the preliminary contention of the counsel for the respondent oil companies that the dispute and difference if any which the members of the appellants had with the respondent oil companies in this regard was to be resolved by arbitration provided for in the agreement entered into by each of the said members of the appellants with the respective oil companies and holding the writ petitions to be not maintainable on this ground; liberty was however given to agitate the grievance in accordance with the dispute resolution mechanism provided for in the agreement between the members of the appellants and the respective oil companies.

It was further observed that the liberty given by the Supreme Court while dismissing the appeal preferred against the order of the CompAT, was to raise the dispute before the appropriate forum and which was of arbitration and not under Article of the Constitution of India. The appellants in the memorandums of appeal, rather than addressing the reasoning given by the learned Single Judge for holding the writ petitions to be not maintainable, have parrot like repeated the averments in the writ petitions.

The counsel for the appellants also, inspite of our repeated asking as to whether not a direction to the respondent oil companies LPA Nos. In fact, inspite of our prodding on the earlier date in this regard, no copy of the agreements so entered into have even been produced and along with the memorandums of appeal, only the extract of the arbitration clause in the agreement has been annexed. We are thus unable to know as to what are the terms of the said agreement.

The counsel for the appellants however invited attention to Harbanslal Sahnia Vs. Indian Oil Corporation Ltd. AIR SC laying down that the rule of exclusion of writ jurisdiction by availability of an alternative remedy is a rule of discretion and not one of compulsion.

We have perused the order of the CompAT as well as the order of the Supreme Court in appeal preferred thereagainst. Though the complaint was on the same grounds as before us, but the CompAT inter alia by referring to the clauses of the agreement between the members of the appellants and the respective oil companies held that no case of the respondent oil companies having indulged in any unfair trade practice was made out.

The Supreme Court, while dismissing the appeals held, "the right of the appellant association obviously is guided by the terms and conditions of the agreement entered into between the members of the association and the respondents and therefore this Court finds no reason to entertain the grievance raised by the appellant. Till the appellants succeed in doing so, they cannot, relying on Harbanslal Sahnia supra , urge that inspite of the contractual remedy, they are entitled to invoke Article Diamond and Gem Development Corporation Ltd.

We are conscious that the appellants have based their case in these proceedings on the provisions of the Legal Metrology Act. However we are not satisfied that the contract of the members of the appellants with the respondent oil companies would remain unaffected from the reliefs claimed in these proceedings. We may note that it is also the contention of the counsel for the respondent HPCL that this Court also does not have the territorial jurisdiction to entertain the writ petitions as the appellant in LPA No.

Though the aforesaid two reasons are sufficient to dismiss these appeals but we find that the appellants even under the Legal Metrology Act have failed to make out any case.

Their entire case is based on: However, though Section 4 of the Act provides that every unit of weight or measure shall be in accordance with the metric system based on the international system of units but the appellants have not explained the basis of their presumption that the unit of litre as a measure of volume is not LPA Nos. The Act and the Legal Metrology General Rules, framed thereunder are not found to define, what is the "metric system" or what is the "international system of units".

The appellants also have not bothered to pay any attention thereto. Clause 2 of the 8 th Edition, updated in of the said Brochure reports that there are Seven units upon which the most accurate and reproducible measurements can be made and which are known as Base Units. The said seven Base Units are. However, the said Brochure besides the said Base Units, also refers to Derived Units which are products of powers of Base Units and Clause 4 of the said Brochure refers to " units outside the SI" as some of the Non-SI units which still appear in the scientific, technical and commercial literature and will continue to be used for years owing to their historic importance.

It further lists the non-SI units which are accepted for use with the international system because they are widely used with the SI in matters of everyday life and because their use is expected to continue indefinitely and yet further because they have an exact definition in terms of an SI Unit. The said list includes the unit of litre as a measure of volume and gives the value of a litre in SI units as:.

It would further follow that litre is a unit of measure in accordance with the Metric System based on the International System of Units, within the meaning of section 4 of the Legal Metrology Act. Section 5 1 of the Act lists the same Base Units as under the SI and in which as aforesaid litre is not included.

However, Section 5 2 provides that "the specifications of the base units mentioned in sub-section 1 , derived units and other units shall be such as may be prescribed. It thus follows that the Legal Metrology Act has expressly admitted to use of litre as a measure of volume. Mass again is not defined, neither in the Act nor in the Rules. Mass is defined in the Concise Oxford English Dictionary, Tenth Edition as "the quantity of matter which a body contains".

The same thus runs counter to the argument of the appellants that the measure of liquids has to be by mass only. Again, while providing the extent of error in measurement of such liquids, measurements are given in litres which is also indicative of the measurement in litres being within the domain of the legal metrology system.

Reference may also be made to Rule 12 of the Legal Metrology Packaged Commodities Rules, which in Clause 2 a provides that except in the cases of commodities specified in the Fourth Schedule of the Rules, the declaration of the quantity shall be in terms of the unit of mass if the commodity is solid, semi-solid, viscous or a mixture of solid and liquid and which is again indicative of the reference to measurement in units of mass in the Act being to solids, semi-solids, viscous or mixture of solid and liquid.

Rule 12 2 d categorically provides that the declaration of the quantity shall be in terms of the unit of volume, if the commodity is liquid or is sold by cubic measure. The purport of our above discussion is not to categorically hold either way inasmuch as we have had no assistance as aforesaid, from either of the counsels in the said respect. The purport of this discussion is only to show that if at all the grievance of the appellants is genuine, the proper forum if not arbitration as above suggested, would be the authorities under the Legal Metrology Act itself.

Chapter V of the Act deals with offences and penalties and if at all the respondent oil companies are violating the provisions of the Act, the remedy of the appellants would be to file a complaint thereof within the ambit of the Act before the authorities constituted under the Act and who being adept in every aspect of the subject, would be better equipped to deal therewith.

As far as the grievance of the appellants of use by the respondent oil companies of the dip-rod method is concerned, we find that Rule 14 of the Legal Metrology General Rules provides that the procedure for carrying out calibration of vehicle tanks etc.

The Ninth Schedule itself, while referring to maximum permissible error, refers to the capacity of vehicle tanks in litre; not only so, it also provides the detailed procedure for measurement by dip-rod method. We have wondered that when the Rules framed under the Act themselves are providing for measurement of vehicle tanks in litres, how can it be said that the unit of litre being used by the respondent oil companies is in contravention of the Act.

We therefore do not find any merit in these appeals. The appeals are accordingly dismissed. Cites 8 docs - [ View All ]. Try out our Premium Member services: Free for one month and pay only if you like it.