Stuart Dench News

Firm Warns on Tanker Traders' Tricks

London law firm Lawrence Graham says owners chartering out tankers should fight to keep additional early loading clauses out of the charter party or specifically query each charterer's instruction to clarify laytime issues. The warning follows a High Court decision which Lawrence Graham says places owners at a disadvantage. Writing in the March issue of Lawrence Graham's newsletter, Shipping Lawgram, Stuart Dench, a member of the shipping law team, says, "The charterer, a major trader, uses its commercial muscle to modify a standard charter party to the owner's disadvantage. When it comes to a dispute over interpretation of the additional clauses, the owner can usually rely on arbitrators making a sensible commercial decision.