London Arbitration 24/17

Charterparty – Implied term – Newbuild vessel chartered under 10-year bareboat charter – Parties simultaneously entering into ship management agreement – Charterers terminating management agreement – Whether bareboat charter contained implied term that it should terminate on termination of management agreement

The subject vessel was a newbuild that had been bareboat-chartered by the claimants (owners) from the building yard. On 29 March 2013 the owners in turn chartered the vessel to the charterers pursuant to a bareboat charterparty on the Barecon 2001 form, with two Addenda (the BBCP).