Trafigura Maritime Logistics PTE Ltd v Clearlake Shipping PTE Ltd [2020]

Trafigura Maritime Logistics PTE Ltd v Clearlake Shipping PTE Ltd [2020] EWHC 995 — 27 April 2020 (Teare J)

“The Defendant charterers (and sub-charterers) were ordered by the Court on 24 March to "provide forthwith such bail or other security as may be required to secure ...release" of a vessel arrested in Singapore. They failed to reach agreement as to the guarantee sought by the arresting bank. The Claimant disponent owners now sought an amendment to the order, such as would require security in the form sought by the arresting bank, or payment of the security sum (US$76 M) into the Singapore Court. The Commercial Court found that "as may be required" meant by the court of the place of arrest. However, in the exceptional circumstances in which Covid 19 prevented the Singapore Court ruling promptly, the Judge decided that he had jurisdiction to impose his solution, rejecting the amendment but ordering payment of the US$76 M into the Singapore Court.”

Antonino Cordopatri
E. G. Arghyrakis & Co.
29th April 2020