Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

STERLING COAL & NAVIGATION CORPORATION OF NEW YORK "INVOTRA" INVOER-EN TRANSPORT-ONDERNEMING N.V. v. HALFDAN GRIEG & CO. A/S (THE "LYSLAND")

[1976] 1 Lloyd's Rep. 427

COURT OF APPEAL

Before Lord Denning, M.R.,1 Lord Justice Orr and Lord Justice Browne

Charter-party (Time) - Compensation - Time charter-party for about 24 months, one month more or less at charterers' option-Cancellation by mutual consent-New agreement substituted -Owners to be free to let out vessel for remainder of period of original charter-party - Compensation to be paid to owners by charterers - Vessel subsequently let out under voyage charter-party and long term time charter-party - Whether owners to be compensated for real loss or notional loss only.

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