Lloyd's Maritime Law Newsletter
London Arbitration 16/16
Charterparty – Novation – Time charters novated after 18 months with substitution of different owners – Novated charters on terms of original charters with logical amendments “except … as presently performing” – Whether speed and performance warranties in original charters replaced with new warranties that vessels would continue to perform as they were performing at moment when novated fixtures were agreed
The
three subject vessels were originally chartered to the respondent charterers
for a minimum of 33 months and a maximum of 39 months (the original charters). Each
original charter contained a clause guaranteeing the vessel’s speed and
consumption at “abt 16 knots on abt 30,0 mt IFO 380cst/day” in conditions up to
Beaufort Force 4 and Douglas Sea state 3”.