Ceto Shipping Corporation v Savory Shipping Inc (The Victor 1) – [2022] EWHC 2636 (Comm), King’s Bench Division, Commercial Court (Mr Justice Andrew Baker) – 21 October 2022

Charterparty (bareboat) – Hire paid under fixed-term charterparty – Title to transfer at end of charterparty provided hire and fees to ship manager paid – Where sums disputed by charterer in good faith – Barecon 2001

The charter provided also for the sale of the vessel by an appended memorandum of agreement (MoA) on the Saleform 2012 form, dated 28 February 2019 as amended. The sale price was stated as US$12 million less a down payment of US$5 million and bareboat hire paid under the charter. If, therefore, the hire was paid in full for 36 months, the sale price would be reduced to nil.