Greatship (India) Ltd v Oceanografia SA de CV

Greatship (India) Ltd v Oceanografia SA de CV

On the proper construction of Clause 10(e) of the BIMCO Supplytime 89 form, Owners are not required to give Charterers five banking days notice before exercising their right to suspend performance of obligations for non-payment; the right to suspend arises immediately upon payment becoming due and remaining unpaid.

Parties
Claimant/owners: Greatship (India) Limited; Respondent/charterers: Oceanografia SA de CV
Jurisdiction
England and Wales
Judgment Date
05 December 2012
Procedural Posture
Commercial Arbitration Appeal / Appeal From Arbitral Award Under Section 69 of the Arbitration Act 1996
Outcome
Appeal allowed; arbitral award overturned on the point of law.
Legal Topics
Charterparty Construction, Right to Suspend Performance, Notice Requirements, Interpretation of Standard Form Contracts
Commercial Law Arbitration Charterparty Construction Right to Suspend Performance Notice Requirements Interpretation of Standard Form Contracts

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Parties

Greatship (India) Limited

Claimant/owners

Oceanografia SA de CV

Respondent/charterers

Procedural Posture

Commercial Arbitration Appeal / Appeal From Arbitral Award Under Section 69 of the Arbitration Act 1996

Legal Issues

  1. 1 Whether Clause 10(e) of the BIMCO Supplytime 89 form requires Owners to give Charterers five banking days notice before exercising the right to suspend performance of obligations for non-payment

Ratio Decidendi

On the proper construction of Clause 10(e) of the BIMCO Supplytime 89 form, Owners are not required to give Charterers five banking days notice before exercising their right to suspend performance of obligations for non-payment; the right to suspend arises immediately upon payment becoming due and remaining unpaid.

Court Disposition

Appeal allowed; arbitral award overturned on the point of law.