London Arbitration 15/24

Charterparty - Amended Gencon form - Termination by charterers following cancellation by shippers after vessel's arrival at loading port anchorage - Whether charterparty frustrated - Whether owners in breach of an implied obligation of good faith - Whether owners would have missed the cancelling date - Quantum of damages and mitigation

By this fixture, the subject vessel was chartered for a voyage with a cargo of scrap from Venezuela to Turkey. No cargo was loaded. A dispute arose after the charter was cancelled. A tribunal of three arbitrators was appointed in accordance with the charterparty arbitration clause.