Lansat Shipping Co. Ltd. v. Glencore Grain BV (The “Paragon”) – Court of Appeal, 22 July 2009

NYPE -- LATE REDELIVERY -- ILLEGITIMATE LAST VOYAGE -- MEASURE OF DAMAGES -- PENALTY CLAUSE -- Charterer Award In an appeal over the late redelivery of a time-chartered vessel, the Court was called on to determine if a clause stipulating that in the event of late redelivery the daily hire rate for the 30 days prior to the commencement of the overrun period is to be calculated at the higher prevailing market rate, is a penalty clause and unenforceable in English law.