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ARTICLE · 06 MARCH 2013

Outstanding Hire: Do Owners Have To Give Charterers Notice Before Suspending Performance?

Clyde & Co
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Under a charterparty on an amended BIMCO Supplytime 1989 form, the owners of the "GREATSHIP DHRITI", Greatship (India) Limited, chartered her to Oceanografia S.A. de C.V. for a period of two years.

United KingdomTransport
Clyde & Co LLP
Clyde & Co LLP
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The answer is: no - if you have a BIMCO Supplytime 1989 form of charterparty, according to Gloster J, in Greatship (India) Ltd v Oceanografia SA de CV [2012].

The facts

Under a charterparty on an amended BIMCO Supplytime 1989 form, the owners of the "GREATSHIP DHRITI", Greatship (India) Limited, chartered her to Oceanografia S.A. de C.V. for a period of two years. Clause 10(e) of the BIMCO Supplytime 1989 charterparty provided, inter alia "[2] if payment is not received by the Owners within 5 banking days following the due date the Owners are entitled to charge interest ... on the amount outstanding from and including the due date until payment is received... [3] in default of payment ... the Owners may require the Charterers to make payment of the amount due within 5 banking days of receipt of notification from Owners; failing which the Owners shall have the right to withdraw the Vessel ... [4] while payment remains due the Owners shall be entitled to suspend the

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