After withdrawal. Charterers' Wrongs and Shipowners' Remedies
Journal: Cronfa (Swansea University)
Year: 2018

The right of withdrawal is a potent remedy for a shipowner. However, exercising the remedy at a time when cargo is on board will lead to the shipowner’s incurring costs in fulfilling contractual obligations owed to shippers, and, in a falling market, the shipowner will incur additional losses represented by the difference between the charter rate and the market rate for the unexpired residue of the terminated charter. As well as claiming the unpaid hire outstanding at the date of the withdrawal,