Case Nos: CL-2023-000206 and CL-2023-000207 - [2025] EWHC 1591 (Comm)

Fecha: 26-Jun-2025

Charterers’ Default

Charterers’ Default

21.

From late 2014 the price of oil fell sharply, which reduced the amounts which the Vessels could earn by way of hire. Charterers began exploring restructuring proposals in relation to the Charterparties from July 2015. Charterers paid Fixed and Variable Charter-hire as it fell due under the Charterparties until 28 December 2015 (Kailash) and 11 January 2016 (Ben Nevis). They made no payments under the Charterparties subsequently.

Heading
The issues and the parties’ arguments 8 The Alleged General Agreement 9
Overall Conclusions 32
The Charterparties
The Guarantees
The General Assignments
Charterers’ Default
The issues and the parties’ arguments
The Alleged General Agreement
Contract formation
Waiver
Estoppel
The facts relevant to the alleged General Agreement
Section 19
Section 20
Section 21
Section 22
Section 23
Section 24
Section 25
Owners
Charterers
Conclusions as to the General Agreement
Waiver
Estoppel
Other Liability Issues under the Charterparties
Quantum of Claims under the Charterparties
The Claim on the Guarantees
The Parties’ contentions
Conclusions as to liability issues on Guarantees
Quantum of claim on Guarantees
Conclusions