London Arbitration 13/05

Vessel agreed to be sold under MOA - Purchasers entering into time charter as owners prior to delivery of vessel - Clause 44 of charter giving charterers right to bunker vessel prior to delivery to purchasers - Sellers refusing to permit charterers to bunker vessel prior to delivery to purchasers - Whether purchasers liable to charterers for breach of clause 44

On 14 December the vessel was chartered on the NYPE form for one laden leg. At the date of the charter the vessel was not in the ownership of the owners. On 26 November, the owners had concluded an MOA to purchase the vessel from her previous owners. Delivery under the MOA was intended to take place at Pohang where the vessel would be discharging cargo under a charter which the previous owners were performing.