REGAL SEAS MARITIME SA v OLDENDORFF CARRIERS GMBH & CO KG (THE “NEW HYDRA”)

[2021] Lloyd's Rep. Plus 98

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Sir Nigel Teare, sitting as a Judge of the High Court

Charterparty (Time) – Hire – Hire to be calculated by reference to Baltic Capesize Index “plus 4% for size adjustment” – Baltic Exchange changing size of benchmark vessel during course of charter – Whether implied term that percentage size adjustment should be revised so as to become a reasonable percentage size adjustment.