Resolution:
CIM webservices do not work out-of box on weblogic application server.

Weblogic 8.1 ships with webservices.jar which conflicts with Axis' saaj.jar and prevents Axis 1.2 from working as expected. The workaround to overcome this would be to have the Axis' saaj.jar included in the CLASSPATH in the startWeblogic script before in front of Weblogic's webservices.jar. Also one needs to use the port on which the weblogic instance is running for sending webservice requests.