A UK high court case involving Gunvor tanker shipments into Yemen has highlighted the importance of demurrage wording in charter contracts.
The trader was claiming payments for delays from buyer CruGas Yemen, which entered into COAs for petrol to be shipped in 12 monthly consignments to Hodeidah on various ships sourced from owners by Gunvor's Clearlake.
After several liftings the buyer was in default as regards demurrage of $5.5m
