QCR Summer 2020: Obligations with regard to security under intermediate LOIs

Contract signing

TRAFIGURA MARITIME LOGISTICS PTE LTD v CLEARLAKE SHIPPING PTE LTD and CLEARLAKE SHIPPING PTE LTD v PETROLEO BRASILEIRO S.A. (“THE MIRACLE HOPE”) [2020] EWHC 995 (Comm)

The above English High Court decision was issued by the Club as a Legal Update on 21.05.20. Please click here to read the decision.

Staff Author

UK P&I

Date16/07/2020

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On 27th April 2020, the English High Court (Mr Justice Teare) gave guidance on the requirements imposed by International Group LOI wordings and the position of intermediate parties in an LOI chain, in circumstances where an LOI is given to enable cargo to be delivered without production of the original Bill of Lading.

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The UK P&I Club received the following update from Harpaz P&I, a local Israeli correspondent, regarding the port situation in Israel.