After withdrawal: charterers’ wrongs and shipowners’ remedies

• Autores: Simon Baughen
• Localización: Lloyd's maritime and commercial law quarterly, ISSN 0306-2945, Nº. 3, 2018, págs. 348-375
• Idioma: inglés
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• Resumen

  • The right of withdrawal is a potent remedy for a shipowner. However, exercising the remedy at a time when cargo is on board will lead to the shipowner’s incurring costs in fulfilling contractual obligations owed to shippers, and, in a falling market, the shipowner will incur additional losses represented by the difference between the charter rate and the market rate for the unexpired residue of the terminated charter. As well as claiming the unpaid hire outstanding at the date of the withdrawal, the shipowner will want to recover these additional costs and losses. This article will examine the options open to shipowners in recovering both the costs of completing voyages under contracts of carriage with shippers and the loss sustained by withdrawing in a falling market. These remedies need to be set in the context of the web of contracts that are involved when carrying cargo under a time charter, such as contracts with shippers under, and lawful holders of, bills of lading, and contracts under sub- and sub-sub-charters.