Construction of index-linked and formula-based pricing clauses under a time charterparty

Briety Shipping Inc v Trafigura Maritime Logistics Pte Ltd (The Tenergy) [2026] EWHC 1714 (Comm)

The dispute in this case concerned the construction of a bespoke hire provision in a five-year LNG time charterparty between Briety Shipping Inc, as owner, and Trafigura Maritime Logistics Pte Ltd, as charterer, in respect of the LNG carrier Tenergy. The decision provides important guidance on the construction of index-linked and formula-based pricing clauses in shipping and commodity contracts, and on the evidential hurdles in rectification claims.