Golden Fleece Maritime Inc v. ST Shipping & Transport Inc (The “Elli” and “Frixos”) – QBD (Comm. Ct.), 2 Aug 07

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SHELLTIME 4 -- MARPOL -- CHANGE OF INTERNATIONAL REGULATION -- TIME CHARTER -- CARGO RESTRICTIONS -- COMMERCIAL RISK -- DUE DILIGENCE -- Charterer Award This arbitration began as a result of MARPOL international regulation changes during the operating period of this specific time charter. Due to these changes, the two operating Vessels became legally unable to carry their contracted cargo. This ruling settles which party should bear the commercial risk.
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