It was extensively testified in the maritime press that, the United Kingdom’s Supreme Court has granted an accelerated hearing to Product Shipping & Trading’s case against the collapsed OW bunker. The case is listed for hearing on 22nd March in London and will deliver the final English law verdict, whether all the ship owners should pay to OW Bunker’s assignee ING Bank or to the physical suppliers.
The Court of Appeal in Oct 2015, had held that the UK Sale Goods Act 1979 will not apply to contracts signed with OW Bunkers as a halfway for the supply of bunkers on credit. The outcome of this decision, is that the owners have the risk, to pay twice for the bunkers purchased through OW Bunker. This directives created gloom and was expected that Supreme Court will shortly offer with much desirable clarity. It’s not certain about time frame for hearing to be concluded with a corrective decision.
Meanwhile till the judgement, BIMCO has endorsed for the purchasers of marine fuels to include in their bunker supply agreements that the UK sale goods act will henceforth apply to this contract. The Standard Bunker Contract owned by BIMCO accepted by the purchasers and bunker suppliers and bunker traders in growing numbers has been likewise amended. Necessary incorporation of the recommended wordings have also been done in BIMCO Terms 2015.
The amended terms have been marked with a view to differentiate from the original terms as v1.1. Sample copies for downloading are in the BIMCO website and the corrected version is on IDEA2.
Source: BIMCO
