Eitzen Bulk A/S v TTMI SARL (The “Bonnie Smithwick”) – QBD (Com Ct)(Eder J) – 14 February 2012

Charterparty – Bunkers on redelivery – Shelltime 4 form – Meaning of words “price actually paid” in clause 15

On 10 May 2007 TTMI chartered their vessel Bonnie Smithwick to Eitzen on the Shelltime 4 (2003) form with amendments and rider clauses (“the head charter”). The rate of hire was US$34,500 per day. Clause 15 of the head charter provided: