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

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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Legal

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.

Quarterly Case Review

HARMONY INNOVATION SHIPPING PTE LTD v CARAVEL SHIPPING INC (THE “UNIVERSAL BREMEN”) - [2020] 1 Lloyd's Rep. 206. Delivery of cargo without bills of lading - Back-to back chain of letters of indemnity on the International Group standard form -  Court recognises importance of allowing vessels to continue trading.

Quarterly Case Review

AS Fortuna Opco BV and another v Sea Consortium Pte Ltd and others [2020] SGHC 72

Articles

The preparation of cargo holds for the next intended carriage is a critical operation which requires careful planning and execution; this article considers a number of legal issues which may arise, including terms commonly used in charterparties to describe the cleanliness of cargo holds, the consequences of failing to comply with such terms, potentially resulting in off-hire claims and damages, and the role of the independent surveyor.