Lawrence Graham Warns on Fuel Disputes
London law firm Lawrence Graham LLP says owners and charterers should beware a rash of disputes caused by the recent high bunker prices. Writing in the October issue of Lawrence Graham’s newsletter, Shipping Lawgram, Imogen Rumbold, partner in the shipping law team, says, “Forecasting oil prices is difficult but it is easy to forecast what will happen when fuel prices spike. A period of high bunker prices is always followed by a rash of disputes between charterers and owners and between bunker suppliers and charterers followed by an upsurge in arrests as all parties try to collect debts. The biggest loser is usually the owner, who may face legal costs and delays to the vessel under a new charter, caused by defaults of the previous charterer.
Law Firm Warns on Shipbuilding Contracts
London law firm Lawrence Graham LLP says owners contracting for new ships should be extra careful about communication with the yard to ensure that they do actually get the ship they want, when they want it. Writing in the March issue of Lawrence Graham’s newsletter, Shipping Lawgram, Mike Lax, partner in the shipping law team, says, “In a hot market shipowners want ships quickly. Some shipyards take advantage of that by wriggling out of contracts and reselling early building slots at higher prices to new buyers. If the shipbuilding contract has been correctly drawn up, the law is generally on the side of the owner – but it is an unwise owner who relies too much on the law.
