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

For similar reasons, I do not consider that either a promissory estoppel (if relevantly different from a ‘waiver’ in this area) or an estoppel by convention is made out. Owners’ conduct was at most equivocal and that precludes there having been a promissory estoppel. In relation to estoppel by convention, I do not consider that it has been shown that the parties conducted themselves on the basis of a shared assumption that the Charterparties and Guarantees were no longer applicable. The fact that they continued to negotiate and exchange detailed proposals for a restructuring was inconsistent with a common assumption that the Charterparties and Guarantees had, in effect, already been cancelled.