PETROLEO BRASILIERO S.A. v. KRITI AKTI SHIPPING CO. S.A. (THE “KRITI AKTI”)

[2004] 1 Lloyd's Rep. 712

COURT OF APPEAL

Before Lord Justice Brooke, Lord Justice Mance and Mr. Justice Park

Charter-party (Time) - Duration - Vessel chartered for “11 months, 15 days more or less in charterers’ option” - Clause 18 providing that should vessel be upon a voyage “at the expiry of the period of this charter” charterers should have the use of the vessel for completion of the round voyage - Clause 50 providing that any time off-hire shall count “as part of the charter period” and giving charterers option to use time off-hire as extension to “charter period” - Charterers exercising cl. 50 option to use time off-hire as extension to “charter period” - Whether “the period of this charter” in cl. 18 included 11-month period plus 15 days in charterers’ option plus off-hire extension.