Eteka v Aratos Maritime Ltd Judgment 1096/2016 (Single Member Court of the First Instance in Piraeus)

A glimmer of hope for physical suppliers?The facts In October 2014 the shipowners, Aratos Maritime Ltd, concluded a contract for the supply of bunkers with OW Malta (“the contractual suppliers”), at a price of US$875 per mt of fuel plus US$1,000 for bunkering expenses, payable within 30 days from the next day of delivery.

Thereafter, the contractual suppliers entered into a separate contract with Power Oil SA (“the sub-contractors”), to purchase the bunkers. Finally, the sub-contractors concluded a contract for the supply of bunkers to be delivered to the shipowners’ vessel, M/T PGC Aratos, with the physical suppliers, Eteka, at a price of US$770 per mt of fuel.