News 28 May, 2012

Recent Judgement on Early Redelivery - AQUAFAITH

RE: 'AQUAFAITH' - A RECENT FDD CASE FOR ONE OF THE WEST OF ENGLAND'S MEMBERS CONCERNING A FUNDAMENTAL ENGLISH PRINCIPLE OF CONTRACT LAW: where charterers seek to repudiate a time charter party by redelivering the vessel early, can the ship owner, as the innocent party, refuse to accecpt charterers' repudiatory breach and claim hire in full rather than taking the more usual course of accepting charterers' repudiatory breach, re-fixing and claiming damages?

Members requiring further guidance should contact the Managers.