Lloyd's Maritime and Commercial Law Quarterly
WITHDRAWALS UNDER TIME CHARTERS—RIGHT TO CLAIM FOR POST-TERMINATION SERVICES: CONTRACT, UNJUST ENRICHMENT OR BAILMENT?
The Kos
The Kos is a high quality, double-hulled Very Large Crude Carrier (“VLCC”) and was chartered for a period of 36 months, with hire payable in advance. The charter (on Shelltime 3 form) contained a withdrawal clause, but no anti-technicality clause. While loading pursuant to charterers’ orders at Angra dos Reis, Brazil, the charterers failed to make a hire payment and, on 2 June 2008 at 14:41, the owners issued a notice of withdrawal—unsurprisingly, given that in June 2008 the spot market for chartering VLCCs was buoyant. Consequently, the vessel was rechartered to Shell in the Arabian Gulf within two weeks. Despite the protests of the charterers, the effectiveness of that was
CASE AND COMMENT
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