DS-Rendite-Fonds Nr 106 VLCC Titan Glory GmbH & Co Tankschiff KG and Others v Titan Maritime SA and Others (The “Titan Glory”) – QBD (Comm Ct) (Hamblen J) [2013] EWHC 3492 (Comm) – 13 November 2013

Charterparty – Charter Restructuring Agreement – Agreement providing for semi-annual adjustment of hire paid – Construction of agreement – Whether Agreement should be rectified

The claimants were the owners of a fleet of VLCC vessels which were all subject to long-term period time charters. When markets collapsed at the end of 2008 and beginning of 2009, all the time charters had several years to run.