Olam International Ltd v Legacy Navigation Ltd & Ors (The "Wisdom") - High Court of South Africa (Durban and Coast Local Div)(Nicholson J) - May 2003

Arrest of bunkers by foreign claimant to secure claim of US$235,000 in London arbitration proceedings - Foreign cargo owners seeking to release bunkers on provision of security to value of bunkers - Claimant insisting that security should be for whole value of claim - Principles relevant to release of arrested property where parties are all foreigners

Disputes arose under a time charterparty. The shipowners, Ocean Wind Maritime SA ("Ocean Wind"), a Panamanian company, brought arbitration proceedings against the charterers, a Singapore company, in London claiming US$235,000 damages, interest and costs in consequence of the wrongful repudiation of the charterparty.