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ARTICLE · 19 AUGUST 2010

Does Piracy Entitle A Charterer To Put A Vessel Off Hire?

DLA Piper Australia
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In the case of Cosco Bulk Carrier Co Limited v Team-Up Owning Co Limited (the ‘Saldanha’) [2010] EWHC 1340, Mr Justice Gross in the English High Court recently determined that piracy did not interrupt the hire period in a charter party on the New York Produce Exchange (NYPE) form.

AustraliaAntitrust/Competition Law
Andrew Tulloch
Andrew Tulloch

In the case of Cosco Bulk Carrier Co Limited v Team-Up Owning Co Limited (the 'Saldanha') [2010] EWHC 1340, Mr Justice Gross in the English High Court recently determined that piracy did not interrupt the hire period in a charter party on the New York Produce Exchange (NYPE) form.

Background

On 25 June 2008, Cosco Bulk Carrier Co Limited (Charterers) chartered the vessel Saldanha (the vessel) a Panamax size bulk carrier, from Team-Up Owning Co Limited (Owners) for a period of 47 to 50 months on the same terms as an earlier charter, which was on NYPE form with additional clauses.

On 22 February 2009, the vessel was seized by Somali pirates in the Gulf of Aden and remained in the control of the pirates until 25 April 2009. The vessel did not again reach the location at which she was first seized until 2 May 2009.

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