“A T/C description clause providing "above speed and consumption....with a tolerance of 5pct about" [emphasis added] did not imply a single 5% allowance where each of speed and consumption had been expressed in "about" terms. Further, "No negative influence of currents/swell" meant that those conditions did not qualify as good weather but positive currents and swell were to be ignored. And an off hire claim was held to be an attempted performance claim via the back door and in the absence of a stoppage or proof of time loss, failed.”

“Following default in owners' repayments, a ship was repossessed and sold by the claimant mortgagee bank who then sought a shortfall from the guarantor. The Court ruled that a defence of "sale at undervalue" although technically available to the guarantor, was unsustainable on the facts. Despite the sale price being just over the book debt it was nonetheless reasonable. Nor did sale to a client of the appointed S&P brokers involve a "connected person" such as to reverse the burden of proof.”

“After the collapse of a dam in Brazil, charterers were unable to supply cargoes from a flooded iron ore mine for shipment under a COA and relied on the force majeure or exception clause to excuse their failure. The Court found that in fact charterers would not have shipped cargoes in any event, so there was no causative effect between the dam burst and the failure and the clause was inapplicable. However, owners were unable to recover substantial damages as the dam burst would have prevented the shipment of any iron ore and the compensatory principle operated to prevent owners being placed in a better position than they would otherwise have been.”

“A Tribunal held that a time charter providing "liability for cargo claims... shall be apportioned/settled as specified by the Interclub... Agreement... 1996 and its subsequent amendments..." did not incorporate Clause 9 of the ICA as added in 2011 - providing for the counter-securing of cargo claims — but only those parts of the ICA dealing with settlement and apportionment.”

“The Supreme Court dismissed Playboy Club's appeal in a case about a negligent credit reference for GBP1.6m supplied by BNL for its customer. As was the Club's practice, in order to conceal the gambling purpose, the reference was to be supplied directly to the Club's associated company, Burlington. Relying on the reference, the Club offered a substantial cash facility to its member, who subsequently defaulted. The Club (being the party who had suffered the loss) proceeded against BNL in tort, on the basis of a breach of duty of care. The Supreme Court upheld BNL's defence, ruling that it owed no duty of care to an undisclosed principal who was neither identified nor identifiable.”

“In March, the Commercial Court ruled that a bank's proceedings against a carrier for misdelivery of cargo activated LOIs granted by voyage charterers, Glencore, to disponent owners, Navig8. Glencore's time bar defence, based on Clause 38 of the voyage charter (providing that "the period of validity of any letter of indemnity will be 3 months from date of issue... the indemnity will expire at the end of.. three-month period"), had been dismissed on the basis that the Clause was not a time bar but simply defined the deliveries to be covered by LOIs. Despite the Court of Appeal holding that Clause 38 did constitute a time bar, it nevertheless dismissed Glencore's appeal on the grounds that the LOI terms were 'stand-alone' and included no equivalent expiry provision to that in the charter. “