Igor Sterzhantov s.r.o.

Duration of contractual service of the vessel under time charter confined between the terms of the place or time, or both, at which the vessel is redelivered, regardless of vessel’s condition…more

Place of redelivery together with the time of redelivery are the two terms which define the extent of contractual service. When both terms expressly stipulated in time charter, failure of charterers to comply with either of…more

Under the time-charter contract the vessel is delivered by the owners to the charterers for their commercial use within stipulated period of time. At the end of this time, subject to any express provision contained in the…more

Payment of hire is a primary obligation of the charterer under the terms of time charter contract. Payment of hire is an absolute obligation and is not excused by accident or inadvertence…more

There is no possessory rights over the vessel vested in time charterers, therefore redelivery of vessel takes effect when the master is no longer under the charterer's orders but must consider himself under the orders of the…more

Description of the vessel, naturally, is very important to both sides of charterparty contract, because it outlines particulars and characteristics of the subject-matter of contract. Therefore charterers have a right to insist…more

Minerva Navigation Inc v Oceana Shipping AG (The Athena) [2012] EWHC 3608 (Comm) (13 December 2012) Shipping – Timecharter – NYPE Amended NYPE 1946 cl.15 – Whether the Vessel is off-hire for a particular period merely…more

When the owners let their vessel to the time charterers in consideration of the payment of hire the later entitled to the use of the vessel during contracted period of time. Express provision for punctual advanced payment of…more

Delivery under timecharter usually takes place at designed place or range and within certain time interval, also called laycan. An owner delivers a ship to a time charterer … by placing her at the charterers’ disposal and by…more

Damages for repudiation of a time charter assessed on the basis of general principle of restitutio in integrum, within the limits expressed in Hadley v Baxendale, (1854) 9 Exch. 341 and comparable with that of the law for sale…more

First time the effect of the owners’ failure to obtain in due time an oil major approval came in sight in The Seaflower case . Although the main difficulty met in this case was the clause drafted with insufficient consideration…more

Concept of vetting or ship approval systems becomes increasingly important nowadays, especially in oil and petroleum trades. It would be correct to generalise that results of inspections under approval schemes significantly…more

A lien is a right in one man to retain that which is in his possession belonging to another, till certain demands of him the person in possession are satisfied . In shipping business most common type of lien is shipowner’s lien…more

Deadfreight statement…more

The monetary value of freight directly depends on the quantity of the goods loaded by the charterer, and then delivered in undamaged state by the shipowner to the consignee or receiver. It follows therefore that, when the…more