Terminating a time charterparty: “THE FORTUNE PLUM”

By Lucas Atkin and Claire Messer

"The Tribunal had held that Owners had affirmed the charterparty. The logic was that between the expiry of the statutory demand on 7 November and their decision to terminate the charterparty on 11 November, Owners had a reasonable period during which to decide whether or not to withdraw the Vessel. However, having purportedly made up their mind to terminate, Owners did not withdraw the Vessel immediately, but instead allowed her to remain in the service of Charterers albeit for the purposes of discharging her cargo. The Tribunal considered that this was continued compliance with the charterparty and therefore affirmation of its continuation. Owners’ withdrawal on 14 November was therefore repudiatory in itself."

Copyright 2018 - elDial.com - editorial albrematica - Tucumán 1440 (1050) - Ciudad Autónoma de Buenos Aires - Argentina

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Términos mencionados en esta doctrina: charterparty, owners, november, tribunal, terminate, withdraw.