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

[2022] Lloyd’s Rep. Plus 106

COURT OF APPEAL

Before Lord Justice Underhill, Lord Justice Newey and Lord Justice Males

Charterparty (demise) – Effect of sanctions – Registered owner seeking possession of vessels – Construction of charterparty terms – Entitlement to buy vessel at end of charterparty period – Relief from forfeiture – Risk of becoming subject to sanctions regime – Barecon 2001.