A panamax bulk carrier held by Somali pirates for three months was off hire with all expenses incurred in this period the responsibility of the shipowner.

A London high court has reached an entirely different view of the position of the owner and charterer in the case of Lou Kollakis’ 74,100-dwt Capt Stefanos (built 2002) to that of George Economou’s 76,000-dwt bulk carrier Saldanha