Using a kamsarmax as a floating silo off Iran for four months seemed like a good idea until it generated a $3.8m bill for cargo damage and hire.
Now the shipowner, Sinotrans subsidiary Yangtze Navigation has won a London arbitration victory and defeated a court appeal by charterer Transgrain. The London High Court has ruled that under the charterparty, a claim arising from an "act or neglect" by one party triggers 100% fault for damages, no matter whether the act in question was culpable.
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