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95, Griva Digeni St Limassol 3095, Cyprus Tel: 00 357 25 373734 Fax: 00 357 25 725502

6 th ANNUAL INTERNATIONAL CONFERENCE PRACTICE OF MARITIME BUSINESS AND NOVO 2010 ODESSA 4 th June 2010. 95, Griva Digeni St Limassol 3095, Cyprus Tel: 00 357 25 373734 Fax: 00 357 25 725502 Email: gz.law@cytanet.com.cy Website: www.zambartaslawoffices.com.

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95, Griva Digeni St Limassol 3095, Cyprus Tel: 00 357 25 373734 Fax: 00 357 25 725502

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  1. 6th ANNUAL INTERNATIONAL CONFERENCE PRACTICE OF MARITIME BUSINESS AND NOVO 2010ODESSA 4th June 2010 95, Griva Digeni St Limassol 3095, Cyprus Tel: 00 357 25 373734 Fax: 00 357 25 725502 Email: gz.law@cytanet.com.cy Website: www.zambartaslawoffices.com

  2. Premature Termination and Early Redelivery Under Charterparties

  3. The Consequences of Early Termination The 4 roads to early termination of a Charterparty • Cancellation • Repudiatory Breach • Frustration • Insolvency

  4. Methods of Cancellation of a Charterparty - Examples of typical cancellation clauses in Charterparties

  5. Effects of Cancellation • Rights arising • Obstacles • Traps

  6. Repudiation • What does this mean? • Relevant case law Santa Clara – The Times 1.7.1996 – Repudiatory Breach can be accepted by actions; does not have to be express.

  7. Frustration Can Charterers use this doctrine as justification for premature termination of a Charterparty?

  8. Consequences of Frustration • Cases “LORNA 1”

  9. Early Redelivery in the Current Market - Calculating the losses - Case Law GRIPARION No.2 1994 1 LLR 533 GOLDEN VICTORY 2007 URHL 12 THE ACHILLEAS 2009 1 AC 61. This radically altered the law of remoteness of damage in contract. THE SILVIA 2010 EWHC.

  10. INSOLVENCY How does the insolvency of the parties tie in with frustration?

  11. ANY QUESTIONS??

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