Herculito Maritime Ltd and Others v Gunvor International BV and Others (The "Polar") [2024] UKSC 2; [2024] 1 Lloyd's Rep 85

Charterparty insurance provisions

The Supreme Court in Herculito v Gunvor agreed with Teare J and the Court of Appeal that the shipowner was entitled to claim piracy ransom paid under a general average bond, but with a radically different ratio focusing on the absence in the voyage charterparty of an "insurance code or fund".