The much-awaited decision in the Ocean Victory has just been made available. We will report further once we have time to digest the 60-page judgment by Lord Clarke but, at first glance, it appears that the Appellants lost their appeal both on the unsafe port and recoverability issues. The decision is good news for the port of Kashima and for China National Chartering and Daiichi Chuo. They have successfully avoided the prospect of paying a US$160M claim which now remains with the insurers of the vessel. The legal costs are expected to run to millions of dollars and will largely fall on the unsuccessful appellants.
In a recent arbitration under the LMAA Small Claims Procedure (1) the Tribunal had to determine the validity of a Notice of Readiness (“NOR”) which had been tendered by email. The NOR is one of the most important documents for ship owners because it acts as a trigger to [...]Read more >