ENE 1 Kos Ltd. v. Petroleo Brasileiro SA (The “Kos”) – English Supreme Court, 2 May 2012

SHELLTIME 3 -- TIME CHARTER -- UNPAID HIRE -- WITHDRAWAL OF VESSEL -- SECURITY -- BUNKERS -- Owner Award In partially overturning the Appellate Court ruling of 6 July 2010 (recapped in The TANKVOYager Vol. 12, No. 4), which in turn had overturned the Commercial Court ruling of 23 July 2009 (recapped in The TANKVOYager Vol. 15, No. 4) the Supreme Court addressed the issue of time lost discharging Charterer’s cargo after Owner’s termination of the contract necessitated by Charterer’s non-payment of hire. The Supreme Court discussed the concepts of bailment and indemnity.