FARENCO SHIPPING CO LTD v DAEBO SHIPPING CO LTD (THE “BREMEN MAX”)

[2009] 1 Lloyd's Rep. 81

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr Justice Teare

Charterparty (Time) - Letter of indemnity - Charter containing provision obliging owners to deliver cargo without production of bills of lading against LOI - Cargo discharged against LOI requiring charterer to put up security to prevent arrest or secure release of arrest - Holder of bill of lading subsequently arresting vessel - Owners putting up security to obtain release - Whether charterer remained under obligation to provide security - Whether undertakings in LOI conditional upon delivery to party named in LOI.