B S & N Ltd v Micado Shipping Ltd (The “Seaflower”) - Court of Appeal (Waller, Rix and Jonathan Parker LJJ) - 22 November 2000

Tanker time-charter containing major oil company approvals clause - Shipowners agreeing to obtain Exxon approval within 60 days - Whether clause was a condition or an innominate term

The tanker Seaflower was time-chartered on 20 October 1997 for a period of 11 months, maximum 12 months at charterers’ option. The charter contained the following major oil company approvals clause: