OCM MARITIME NILE LLC AND ANOTHER v COURAGE SHIPPING CO AND OTHERS (THE “COURAGE” AND THE “AMETHYST”)

[2022] Lloyd’s Rep. Plus 70

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Sir Andrew Smith, sitting as a Deputy Judge of the High Court

Charterparty (demise) – Effect of sanctions – Registered owner seeking possession of vessels – Construction of charterparty terms – Entitlement to buy vessel at end of charterparty period – Penalty clauses – Primary and secondary obligations – Relief from forfeiture – Conduct – Barecon 2001.