For some 90 years there has been uncertainty as to the nature of demurrage and the ability of a shipowner to recover damages, in addition to demurrage.
How long can a charterer keep the vessel on demurrage? What happens if freight rates move and the vessel is on demurrage for an extended period, can owners recover the freight differential between the charter party and market rates? Can they recover additional bunkers, port costs or perhaps hull cleaning costs?
The Eternal Bliss  EWHC 2373 seeks to settle the matter.
As an introduction to Pequod’s new petroleum training program, we are pleased to provide our trading clients with a “free” presentation of this issue. We have invited Quadrant Chambers to discuss this judgment and its ramifications for petroleum traders. Quadrant are arguably the pre-eminent shipping and trading barrister’s chambers.
The Quadrant team consists of Poonam Melwani QC, Chirag Karia QC, Ruth Hosking and Andrew Carruth.