London Arbitration 10/23

Charterparty - Damages for repudiatory breach - Whether a fixture made before the subject charter could or should be regarded as a substitute - Whether the earlier fixture reflected market rates at the date for assessment of losses for breach of the charterparty - Whether charterers suffered losses in relation to storage charges and penalties due to a switch of carrying vessels

The owners chartered the subject vessel to the charterers to carry a cargo of wheat in bulk from a Black Sea port to a port in Turkey. The charterparty was made by a fixture recap incorporating the terms of an amended SYNACOMEX 2000 form.