Transpetrol Maritime Services Ltd. v. SJB Marine Energy (The “Rowan”) – English Court of Appeal, 27 Jan 2012

CONSTRUCTION OF WARRANTY -- OIL COMPANIES APPROVALS CLAUSE -- "TBOOK" DEFINED -- Owner Award At the time of the fixture, Owner alleged that the Vessel was approved by five oil majors as required by the charter. Thus, when Charterer’s buyer rejected the Vessel due to a sea-chest valve needing repairs as imposed by the Class survey, a sale was lost with Charterer incurring substantial damages. The Commercial Court ruled Owner had breached the Oil Companies Approval Clause. The Court of Appeal overturned the Commercial Court’s ruling and clarified the meaning of the acronym "TBOOK" and the word “approved” in regards to the charter's majors approval requirement.