Introduction
Over 60 years ago, Lord Denning reiterated that, “It is perfectly clear law that a shipowner who delivers without production of the bill of lading does so at his peril.”
Nevertheless, practical shipping and banking considerations require shipowners do precisely that every single day. How can shipowners mitigate that peril? To what extent do letters of indemnity protect shipowners in the event of misdelivery claims? Do the Hague/Hague-Visby Rules protections apply to such post-discharge conduct? This seminar will address those questions and the practical issues surrounding the issuance and acceptance of letters of indemnity.
Specific Issues for discussion:
Introduction to LOI’s:
- Commercial context and relevant insurance issues
- Operative clauses
- A few pointers
- Gulf Petrochem litigation, including Tenacity Marine Inc v NOC Swiss LLC and OCM Singapore Njord Holdings Hardrada Pte Ltd v Gulf Petrochem FZC.
- Fimbank Plc v KCH Shipping Co Ltd (“The Giant Ace”) [2023] EWCA Civ 569
Chairman: The Hon. Mr Justice Bright
Speakers:
Simon Rainey KC – Quadrant Chambers
Chirag Karia KC – Quadrant Chambers
Helena Biggs – Gard
