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ARTICLE · 18 OCTOBER 2016

Turkish Law Remedies For Owners Against Time Charterers In Default

The shipping industry was faced with the largest container shipping bankruptcy with Hanjin filing for bankruptcy protection on 31 August 2016.

TurkeyTransport

The shipping industry was faced with the largest container shipping bankruptcy with Hanjin filing for bankruptcy protection on 31 August 2016. In addition to the global effects triggered by the bankruptcy, the Turkish market was directly effected as a number of vessels owned by Turkish shipowners were on time-charter to Hanjin.

Our practice has in the past few months observed a significant increase in work related to the repudiation of time-charterparties and with this article, we aim to draw a general picture of remedies that are offered by Turkish Law to owners in this regard.

In general, Turkish law provides the following options to a shipowner to claim and secure hire and other receivables that are due and outstanding under a time charterparty:

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