London Arbitration 15/24

VOYAGE CANCELLATION – TERMINATION OF CHARTER – BREACH OF CONTRACT– IMPLIED OBLIGATION OF GOOD FAITH – DAMAGES AND MITIGATION – OBTAINING SUBSTITUTE FIXTURE AFTER CANCELLATION - AMENDED GENCON FORM – MISSED CANCELLING DATE – SHIPPER’S CANCELLATION OF VOYAGE – WHETHER CARGO WAS SPECIFIC TO SHIPPERS OR AN AGREED OBLIGATION A vessel chartered under an amended GENCON form was to transport scrap metal from Venezuela to Turkey. No loading occurred, and the charter was canceled. The dispute centered on Owners’ claim for damages due to the fixture’s cancellation and Charterers’ counter that Owners did not act in good faith to secure substitute employment.