GREATSHIP (INDIA) LTD V OCEANOGRAFIA SA DE CV (THE "GREATSHIP DHRITI")

[2012] EWHC 3468 (Comm), Queen's Bench Division, Commercial Court, Mrs Justice Gloster DBE, 5 December 2012

Charterparty (time) - BIMCO clauses - Interpretation of clause regarding owner's suspension of performance pending charterer's payment of hire - BIMCO Supplytime 1989, clause 10(e)

By a time charterparty on an amended BIMCO Supplytime 1989 form dated 15 August 2008, owners Greatship agreed to charter Greatship Dhriti to Oceanografia for "two years firm". The present dispute arose from instances of non-payment of hire during the currency of the charterparty. Owners purported to suspend the provision of the services of the vessel for non-payment of hire and relied upon what they claimed was their right to do so under part 4 of clause 10(e). The matter went to arbitration in London in conformity with the London arbitration clause in clause 31 of the charterparty. Owners appealed.