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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”.

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